It’s been 11 days since the so-called white hat hackers siphoned nearly 4,000 BTC from the Liquid Network. Since then, after the return of 3,400 BTC and a whole lot of onchain bickering, L-BTC to BTC peg-outs are still not functional on Liquid, and the hackers still hold 598.50 BTC valued at more than $45 […]
Bitcoin.com News•Jamie Redman7h ago
Over the past week, the crypto community has been hearing about bizarre hacks involving bitcoin-backed tokens, and following the troubles tied to the Liquid Network’s L-BTC and Nomic’s nBTC, Symbiosis’s bitcoin bridge was exploited. Reports say that a hacker minted billions of unbacked syBTC across a set of transactions and managed to cash out around […]
Bitcoin.com News•Jamie Redman13 Sept
Blockstream is refusing to pay the Liquid attacker nearly 600 Bitcoin (roughly $50 million), escalating a dispute over how the crypto industry should reward partial restitution. The standoff follows an unusual recovery from the Sept. 6 exploit, when a vulnerability allowed the attacker to create about 4,000 unbacked L-BTC and withdraw roughly 3,996 real BTC through […]
CryptoSlate•Oluwapelumi Adejumo12 Sept
A Sept. 10 onchain snapshot put backing at 85.15%, while federation peg-outs remained suspended and live market depth stayed unmeasured.
CryptoSlate•Liam 'Akiba' Wright12 Sept
The exploit highlights critical vulnerabilities in sidechain security, urging immediate audits and reevaluation of cryptographic verification methods.
CryptoBriefing•Editorial Team11 Sept
Liquid said on Sept. 8 that 3,400 BTC had been returned and about 598.5 BTC remained outstanding; transactions later resumed with peg-outs disabled.
The Defiant•The Defiant Team11 Sept
A group that drained nearly 4,000 BTC from Blockstream’s Liquid Network returned 3,400 BTC, kept about 598.5 BTC, demanded a 10% bounty, and warned L-BTC holders could face a 15% loss. Now Blockstream has answered with an unusually direct ultimatum: It will not pay. The company says taking the bitcoin was theft, not white-hat security […]
Bitcoin.com News•Jamie Redman11 Sept
The Liquid Network has resumed block generation after the large Bitcoin withdrawal from its system. But users can’t perform transactions or cash out L-BTC at this time. This is because the resumption of block generation represents a cautious attempt to return to normalcy. Especially, after a hack attack that saw
TheNewsCrypto•Lakshya Baskar11 Sept
Blockstream has refused to pay a ransom for roughly 598.5 BTC that remains under the control of the actors behind the Liquid Network exploit after 3,400 BTC was returned earlier this week. Blockstream said in an X post on Sept.…
A range-proof cache bug in the Elements codebase let an unknown actor mint unbacked L-BTC, drain 95% of the federation reserve through SideSwap, then negotiate its return on-chain via OP_RETURN messages. The network remains frozen, 598.5 BTC sits in the…
Liquid Network recovered 3,400 BTC after an abnormal withdrawal, but 598.5 BTC remains and L-BTC services are still suspended with no restart date.
Coinspeaker•Daniel Francis8 Sept
As the major Bitcoin sidechain Liquid Network has been paused due to an around $320 million hack, the absolute majority of the key players in the network haven’t issued any statements, while L-BTC is now backed by only 4.7% of the required bitcoin, as Blockstream says it’s “safe to return the funds.” In the most […]
Bitcoin.com News•Linas Kmieliauskas7 Sept
SideSwap says bug-created L-BTC passed a valid authorization as bridge nodes paused and reserve reconciliation became the restart test.
CryptoSlate•Oluwapelumi Adejumo7 Sept
The incident highlights the critical need for robust software security in federated sidechains to prevent systemic risks and maintain trust.
CryptoBriefing•Editorial Team7 Sept
Blockstream's Liquid disabled its bridge nodes on Sunday after almost the entire bitcoin reserve backing L-BTC was withdrawn to a single address, whose owner wrote “we are whitehats” into a bitcoin transaction.
The Defiant•The Defiant Team6 Sept
Bitcoin Magazine Alleged White-Hat Hackers Withdraw 4,000 bitcoin from Blockstream’s Liquid Network Federation Reserves Liquid Network said purported white-hat hackers withdrew about 4,000 bitcoin from the federation wallet that backs L-BTC. Bridge nodes are disabled and the sidechain is paused. This post Alleged White-Hat Hackers Withdraw 4,000 bitcoin from Blockstream’s Liquid Network Federation Reserves first appeared on Bitcoin Magazine and is written by Juan Galt .
