Security Vulnerability in Liquid Network: 4 Thousand BTC Stolen and Transactions Suspended
Following the major heist due to a security vulnerability, all transactions on the network were halted, and a large portion of the reserves was affected.
The Bitcoin-focused Liquid Network announced that approximately 4,000 Bitcoin, valued at about 320 million dollars and held in its federation wallet, were stolen by exploiting a security vulnerability, leading to the suspension of transfers on the network.
Major Heist in Federation Wallet
In an official statement made by the Bitcoin-focused Liquid Network, it was reported that approximately 4,000 BTC in the federation wallet were stolen.
Large Portion of Reserves Lost
Before the attack, the federation reserve held approximately 4,200 Bitcoin, and with this incident, a vast majority of the reserve left the wallet.
Status of Other Assets
It was announced that USDT, DePix, and certain real-world asset tokens on Liquid were not directly affected by the security incident.
Transactions and Expectations for the Future
While the halting of the network has caused temporary transfer issues, the identification of technical reasons and whether the funds will be recovered are eagerly awaited.