Liquid Network Hacked: $320 Million in Bitcoin Stolen

The Liquid Network, a Bitcoin blockchain sidechain used by multiple cryptocurrency exchanges, has been hacked. This led to the theft of approximately $320 million in Bitcoin.

The hack occurred when the Liquid Federation wallet was compromised, with around 4,000 Bitcoin stolen. The wallet originally held about 4,200 Bitcoin, leaving only around 200 Bitcoin after the theft.

A spokesperson for Liquid stated that the attackers were 'alleged white-hat hackers' who typically transfer funds upon discovering vulnerabilities in order to return them, usually for a fee.