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Bitcoin-based Liquid Network says $320 million withdrawn in hack

From CNA · () English

Summarized by DistantNews. Read the original for the full story.

At a glance

News Official statement Ongoing story
  • Liquid Network said about $320 million, including roughly 4,000 bitcoin, was withdrawn from its federation wallet in a hack.
  • The network said it halted new transactions after the funds were withdrawn through SideSwap, although the key used in the process was not compromised.

Liquid Network said about $320 million was withdrawn from its federation wallet in a hack, including around 4,000 of the 4,200 bitcoin held there.

The Bitcoin-based payments and settlement network said in a post on X that "purported white-hat hackers" carried out the withdrawals. It warned that Liquid wallets would be affected and said it had halted new transactions.

Purported white-hat hackers

· Liquid NetworkThe network used the phrase when describing those who withdrew the bitcoin from its federation wallet.

The funds were withdrawn through SideSwap, a settlement platform authorized to process withdrawals from the network. Liquid said the key used in the process was not compromised.

Liquid wallets will be impacted, and we're sorry for any inconvenience

· Liquid NetworkThe network warned users after halting new transactions.
About this summary

Originally published by CNA. Summarized and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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