$320 Million Withdrawn in Liquid Network Hack

Liquid Network, a Bitcoin-based payments and settlement network, has been hacked. On Sunday, around $320 million was withdrawn from its federation wallet in a breach that saw 'purported white-hat hackers' withdraw approximately 4,000 out of the 4,200 Bitcoin held.

The funds were taken via SideSwap, a settlement platform permitted to handle withdrawals from the network, but the key used in the process remained intact.

Liquid Network has halted new transactions and warned that Liquid wallets will be impacted by the hack, although it apologized for any inconvenience caused.