Liquid Recovers Most Stolen Bitcoins Amid Ongoing Incident

Liquid's Bitcoin reserves have been partially restored after a weekend security incident drained nearly 4,000 BTC from its federation wallet. The recovery of approximately 3,400 BTC, worth around $270 million at the time, brings back about 85% of the lost coins.

The return of most of the stolen Bitcoins is attributed to progress in securing the affected infrastructure and communication with the actors behind the incident. Blockstream confirmed that a necessary patch was implemented on the relevant bridge nodes, while the actors continued their negotiations.

Samson Mow, CEO of JAN3, stated that the repayment followed the implementation of the patch and communication between the parties involved. However, approximately 598 BTC remains with the actors, which has raised questions about their characterization as 'white hats'.

Liquid had not immediately resumed normal service despite the recovery of most of its reserves. The organization emphasized that users should wait before making new Bitcoin peg-ins until Liquid's return to service is officially confirmed.