Liquid Network Halted After $320 Million Bitcoin Heist

A settlement network used by cryptocurrency exchanges has been hit by a security exploit, resulting in the loss of $320 million worth of Bitcoin. The Liquid Network, launched in 2018 by Blockstream, is overseen by a federation of over 80 exchanges, infrastructure firms, and asset managers. Payouts were made from the network's federation wallet, with approximately 4,000 out of 4,200 Bitcoin stolen.

The network has halted all new transactions and apologized for any inconvenience caused. Federation members are working to resolve the issue and restore normal activity.