Crypto
Liquid Network Hacked for $320 Million Worth of Bitcoin
The Liquid Network, a Bitcoin platform company, has been hit by a significant hack. Hackers breached the network and stole approximately $320 million worth of bitcoin from its wallet.
According to an estimate, around 4,000 bitcoins may have been withdrawn from the wallet, which is about 95% of the total stored in the Liquid Federation wallet.
The attackers used SideSwap, a settlement platform authorized to process withdrawals from the network. However, the key used in the process was not compromised, the company stated.
Liquid Network has suspended new transactions and apologized for the inconvenience caused to users. The company acknowledged that the attack would affect Liquid wallets.