Liquid Network Hack: Partial Resolution Reached, But Questions Remain
A large-scale Bitcoin hack has sent shockwaves through the Liquid Network, but a partial resolution has been reached. The hackers behind the withdrawal of approximately 4,000 BTC from the sidechain's federation wallet returned 3,400 BTC, worth around $269 million, to the Liquid Federation address.
The remaining 598.5 BTC, valued at roughly $47 million, still sits in an unknown location, and Liquid has not announced when its peg services will resume or how it will cover any resulting gap in L-BTC backing.
Liquid's response to the hack included disabling its bridge nodes and asking exchanges to suspend L-BTC deposits and withdrawals. The actors identified themselves as 'whitehats' and stated that the chain remained at risk until every node was patched.