Blockstream refuses ransom amid Liquid Network hack
- Blockstream will not pay a ransom to recover funds held by hackers of the Liquid Network.
- Hackers withdrew approximately 4,000 Bitcoin, valued at around $320 million, from Liquid’s federation wallet on September 6.
- After negotiations, hackers returned about 3,400 BTC, leaving nearly 600 BTC still outstanding.
- Blockstream claims the hackers’ actions are theft and not responsible disclosure.
- Liquid has resumed block production but transactions remain suspended following emergency software updates.
Blockstream is working with law enforcement and forensic specialists to trace the remaining assets if they are not returned voluntarily by the hackers. The situation highlights ongoing security challenges within cryptocurrency networks.
As of now, Blockstream has recovered a significant portion of the stolen funds but still faces a loss of nearly 600 BTC. (Source)
