Liquid Network Resumes Block Production After $320M Bitcoin Withdrawal
- The Liquid Network resumed block production after a withdrawal of about $320 million in Bitcoin.
- Transactions and peg operations remain suspended as recovery efforts are ongoing.
- An emergency update to Elements software was released to address a vulnerability linked to the incident.
- Approximately $270 million worth of Bitcoin has been returned, with around $46 million still outstanding.
- The initial withdrawal involved around 4,000 BTC, representing about 95% of the wallet’s balance.
Following a significant exploit, the Liquid Network is working to stabilize its operations while monitoring for further issues. The network’s updates aim to restore its BTC/L-BTC reserve and ensure security against future vulnerabilities.
As of now, approximately $270 million in Bitcoin has been successfully returned following the incident, but about $46 million remains unaccounted for. (Source)
