Liquid Network Recovers Most Stolen Bitcoin, Still Faces $47M Outstanding

Liquid Network has made significant progress in recovering stolen funds after a $320 million exploit last Sunday.

About 3,400 BTC were returned to its federation wallet, but nearly 598 BTC worth approximately $47 million remains outstanding as security fixes continue.

The attackers, who identified themselves as white-hat hackers, had previously indicated that they would return the funds after Liquid fixed the underlying vulnerability.

Liquid Network is a Bitcoin sidechain developed by Blockstream and supported by a federation of crypto companies, including exchanges and miners. The network was paused while it worked through several issues, including a chain split and restoring confidence in L-BTC being fully backed.