Liquid Network Pauses Operations After $320 Million BTC Withdrawal

The Liquid Network, a sidechain connected to Bitcoin, has paused its operations following a significant withdrawal of approximately 4,000 BTC worth $320 million from its Federation wallet.

Liquid stated that the sidechain will remain halted while an investigation into the incident is conducted and resolved. The affected funds were reportedly withdrawn by purported white-hat hackers.

The term 'white-hat hacker' generally refers to security researchers or actors who identify vulnerabilities or intervene in security incidents with the aim of preventing further harm, although the characterization in this case remains attributed to the information reported.