Blockstream Declines Ransom for $47M in Stolen Bitcoin
Blockstream has declined to pay a ransom for the return of $47 million in Bitcoin still held after the Liquid Network hack. The company stated that it will not 'pay a ransom' for the return of approximately 598.5 BTC, saying 'it is theft' and 'taking assets without authorization and withholding their return is a crime.'
The hackers returned 3,400 BTC on Monday, about 85% of what was taken during the attack. Blockstream will work with law enforcement, exchanges, and forensic specialists to trace the remaining funds if they are not returned.
In a statement, Blockstream emphasized that it will not be 'a party to the precedent that open-source software developed for the good of the Bitcoin community should subject its developers to paying a ransom that far exceeds their economic participation.'