Future TechnologyLiquid lost 95 percent of its Bitcoin to self-declared white hats
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Liquid lost 95 percent of its Bitcoin to self-declared white hats
Roughly 4,000 BTC, worth about $320 million, left the federation wallet backing Blockstream's Liquid Network on Sunday. The wallet held around 4,200 BTC before the withdrawal, so whoever moved the funds took approximately 95 percent of everything backing L-BTC.
Key Takeaways
- Roughly 4,000 BTC, about $320 million, left Liquid's federation wallet, which held around 4,200 BTC beforehand
- The people responsible left an on-chain message calling themselves whitehats and promising to return most of it once the bug is patched
- Liquid says the funds moved via a SideSwap peg-out, but that no Peg-out Authorization Key appears to have been compromised
- Bitcoin's base layer was untouched. A federated sidechain does not inherit Bitcoin's security model
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