Blockstream Stands Firm Against Hackers Demanding Ransom

Blockstream, the company behind the Liquid network, has refused to negotiate further with hackers who stole 4,000 bitcoins from its sidechain last week.

The hackers still have time to return the funds before Blockstream works with law enforcement to trace and recover the assets.

Last week, white-hat hackers withdrew $320 million from the federation wallet that backs Liquid, a layer-2 created by Blockstream. They returned most of the funds but kept 598.5 coins worth over $46 million as ransom.

In a statement, Blockstream said it will not pay a ransom for the return of stolen funds and will work with law enforcement to recover the assets.