Blockstream refuses ransom demand from Liquid Network hackers
- Blockstream will not pay a ransom to recover nearly 600 BTC held by hackers.
- The hackers initially withdrew about 4,000 BTC, valued at approximately $320 million.
- Blockstream engaged with the hackers but deemed their actions as theft, not responsible disclosure.
- Liquid paused operations on Sept. 6 after the hack and has since resumed block production with empty blocks.
- The hackers threatened a 15% loss for Liquid holders if their demands were not met.
Blockstream has stated it will collaborate with law enforcement and forensic specialists to trace the stolen assets if they are not returned voluntarily. The incident highlights ongoing security challenges within cryptocurrency networks.
As of now, Blockstream is holding firm against the ransom demand while approximately 598 BTC remains unreturned following the initial withdrawal.(Source)
