Crypto
$320M Bitcoin Fund Withdrawn in Liquid Network Hack
Liquid Network, a Bitcoin-based payments and settlement network, has been hacked. The hack resulted in approximately $320 million being withdrawn from its federation wallet.
The funds were taken by 'purported white-hat hackers' who withdrew around 4,000 of the 4,200 BTC held in the Liquid Federation wallet. This was done using SideSwap, a settlement platform permitted to handle withdrawals from the network.
Liquid Network has halted new transactions and apologized for any inconvenience caused to users. The key used in the process was not compromised during the hack.