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Crypto

Liquid Sidechain Paused After $319.5M in Bitcoin Withdrawn

Guavy AI Editorial Team
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Blockstream's Liquid sidechain was paused after nearly all of its bitcoin reserves were withdrawn from its federation wallet on Sunday.

The funds, worth approximately $319.5 million at Bitcoin's price of $79,901 per CoinGecko, left through a working authorization key rather than a stolen one, leaving the route into the peg unexplained.

Two transactions moved the money, with the second sending 3,995.99999857 BTC to an address that now holds 3,998.49748445 BTC.

The recipient of the funds attached a message in an OP_RETURN field, stating 'we are whitehats. contact us on chain.'

Blockstream responded on-chain by paying 1,000 satoshis to the address with a message 'Please contact security@blockstream.com.'

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