Crypto
$320M Bitcoin Heist Rocks Liquid Network
A $320 million Bitcoin heist has shaken the Liquid Network, a federated sidechain designed to move Bitcoin faster and more privately than the main chain.
The hackers claimed to be 'good actors' who will return the funds once the vulnerability is fixed, but their true intentions remain unclear.
Liquid Network's federation wallet was drained of 4,000 BTC, roughly 95% of its balance, after a Peg-out Authorization Key (PAK) belonging to SideSwap, a decentralized exchange built on the sidechain, was compromised.
The incident has raised concerns about the security of cryptocurrency infrastructure, which has already faced significant losses this year.