Technology1h ago
Liquid Network paused after 4,000 BTC worth $320 million withdrawn from wallet
AI EXECUTIVE SUMMARY
Blockstream temporarily paused the Liquid Network following the unauthorized withdrawal of 4,000 bitcoins, valued at approximately $320 million, through a SideSwap mechanism. Bridge nodes have been disabled while investigations continue to determine if the incident was the action of a white-hat hacker.
WHY IT MATTERS
This sudden halt of a major Bitcoin layer-2 network involving hundreds of millions of dollars highlights potential vulnerabilities in sidechain bridges and liquidity protocols.
Liquid Network paused after 4,000 BTC worth $320M were withdrawn via SideSwap's PAK; the PAK itself is uncompromised. Bridge nodes disabled, some exchanges paused L-BTC. Other assets unaffected. Blockstream contacted actors, possibly white-hat. Investigation ongoing.
This story was originally reported by LiveMint โ Technology. As an automated real-time news aggregator, NewsToolBar provides multi-perspective indexing and AI summarization while directing full readership directly to primary publisher sources.
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