Liquid Network Faces Delays in L-BTC Peg-Outs Post-Hack
- Blockstream has paused L-BTC peg-outs for over two weeks following the September 6 hack.
- Bull Bitcoin estimates L-BTC-to-BTC swaps could resume within 30 days, though this is an educated guess.
- Hackers returned approximately 3,400 BTC but still hold onto about 598.50 BTC, valued at over $51 million.
- The Liquid Network resumed block production and transactions on September 10, but peg-out operations remain paused.
The Liquid Network continues to face challenges with its peg-out process more than two weeks after a significant security breach. Despite hackers returning a large portion of the stolen funds, Blockstream is still working to safely restore peg-out operations with Federation members and partners.
L-BTC holders are currently unable to swap their tokens back into Bitcoin due to ongoing issues with the Liquid Network’s peg-out mechanism, which remains paused as of now. (Source)
