Liquid Sidechain Paused Following $320M White-Hat Bitcoin Withdrawal
Liquid Network halted operations after white-hat actors took $320M in BTC, promising to return funds once an underlying software vulnerability is patched.
The Liquid Network, a prominent Bitcoin sidechain, has temporarily halted operations following an incident where self-proclaimed white-hat actors withdrew approximately $320 million worth of Bitcoin.
The individuals involved notified Blockstream that they plan to return the majority of the 4,000 BTC once a vulnerability in the underlying Elements platform is patched across the network.
Incidents involving sidechain exploits highlight that secondary layers introduce additional protocol risks, underscoring the security benefits of keeping your assets in direct self-custody where you retain full control of your private keys.
Source: Cointelegraph
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