Liquid Network Paused After Major Bitcoin Theft
- Hackers drained approximately BTC 4,000 from Liquid Network’s federation wallet.
- L-BTC is now backed by only 4.7% of the required bitcoin to maintain its peg.
- The attacker claims they will return the funds once a bug is fixed, but only “most” of it.
- Bridge nodes have been patched, and exchanges are pausing L-BTC transactions.
- Liquid Federation members have not issued public statements regarding the incident.
The Liquid Network has paused operations after hackers stole BTC worth millions, severely affecting the backing of its native currency, L-BTC. While bridge nodes are now secure, uncertainty remains over the value of L-BTC and when users can access their assets again.
With only a fraction of its original backing remaining, L-BTC’s future value is uncertain as stakeholders await potential fund returns from the hacker and network reopening plans. (Source)
