Crypto
Liquid Network Exploit Yields 3,998 Unbacked L-BTC Amid Blockstream Ransom Refusal
SlowMist has uncovered a flaw in the Liquid Network that led to the minting of 3,998 unbacked L-BTC. The issue was discovered after a series of security incidents on the network.
In response to the exploit, Blockstream announced that it would not pay a ransom to recover the remaining Bitcoin taken during the incident.
The alleged white-hat hacker who drained nearly 4,000 BTC from Liquid Network transferred 3,400 BTC (approximately $268 million) back to the federation's wallet. The transaction kept 15% of the stolen haul.