Crypto
White-Hat Hackers Withdraw $300M from Liquid Network
A significant security incident has occurred on the Liquid Network, a Bitcoin sidechain that enables faster transfers. Purported white-hat hackers have withdrawn approximately 4,000 BTC (nearly $300 million) from the shared wallet that backs the platform.
The withdrawal occurred through the SideSwap Peg-out Authorization Key (PAK), but this key and others remained uncompromised. Other assets on the network, including USDT, DePix, and RWAs, are unaffected by the incident.
The Blockstream team is working to contact the actors on-chain using a signed message. The Liquid wallets are impacted, but the federation is striving to restore normal operations as soon as possible.