Liquid Network 'White Hats' Return $270M of $320M in Bitcoin Taken From Sidechain
Updated — view changes (3)
· body · New information from a source
Blockstream's Bitcoin sidechain Liquid Network paused operations after purported white-hat hackers withdrew 4,000 BTC, worth $320 million, from the network's federation wallet, according to Cointelegraph and Decrypt.The actors exploited a vulnerability in Elements, the software underlying Liquid, and communicated with Blockstream through PGP-signed messages embedded in Bitcoin transactions, according to Decrypt.They told Blockstream they intended to return most of the funds once the vulnerability was patched across the network, Cointelegraph reported.The hackers have since returned 3,400 BTC, or about $270 million — roughly 85% of the withdrawn amount — according to Cointelegraph and Decrypt.Decrypt reported that nearly 600 BTC remains outstanding after Blockstream told the actors in an on-chain message that Liquid's bridge nodes had been patched.CoinDesk reported that talks are underway for the return of the remaining bitcoin as the network prepares to restart.- Blockstream's Bitcoin sidechain Liquid paused after purported "white hat" actors withdrew 4,000 BTC, worth roughly $320 million, by exploiting a vulnerability in the Elements software underlying the network, according to Cointelegraph.
- The actors communicated with Blockstream through PGP-signed messages embedded in Bitcoin transactions, according to Decrypt.
- They told Blockstream they intended to return most of the funds once the vulnerability was patched across the network, according to Cointelegraph.
- The actors subsequently returned 3,400 BTC, about $270 million, according to Decrypt and Cointelegraph, representing roughly 85% of the total amount withdrawn.
- Blockstream told the actors in an on-chain message that Liquid's bridge nodes had been patched, according to Decrypt.
- Nearly 600 BTC remained outstanding after the return, according to Decrypt.
· summary · New information from a source
Purported white-hat hackers who drained $320M in BTC from Blockstream's Liquid sidechain have returned $270M, with talks ongoing for the rest.- Purported white-hat hackers who drained $320M in Bitcoin from Blockstream's Liquid sidechain have returned $270M, with about 600 BTC still outstanding.
· headline · New information from a source
Liquid Network Hackers Return $270M of $320M Bitcoin Taken in Sidechain Exploit- Liquid Network 'White Hats' Return $270M of $320M in Bitcoin Taken From Sidechain
Every change made to this story after publication is recorded here automatically. A factual error gets a correction as well, on the corrections page.
Blockstream’s Bitcoin sidechain Liquid paused after purported “white hat” actors withdrew 4,000 BTC, worth roughly Bitcoin sidechain Liquid pauses after purported ‘white hats’ withdraw $320M in BTC.
, by exploiting a vulnerability in the Elements software underlying the network, according to Cointelegraph.
The actors communicated with Blockstream through PGP-signed messages embedded in Bitcoin transactions, according to Decrypt. They told Blockstream they intended to return most of the funds once the vulnerability was patched across the network, according to Cointelegraph.
The actors subsequently returned 3,400 BTC, about Liquid Hackers Return $270M in Bitcoin After Swiping $320 Million.
, according to Decrypt and Cointelegraph, representing roughly The actors returned 85% of the Bitcoin withdrawn from Liquid’s federation wallet following the security incident.
of the total amount withdrawn. Blockstream told the actors in an on-chain message that Liquid’s bridge nodes had been patched, according to Decrypt. Nearly 600 BTC remained outstanding after the return, according to Decrypt.
CoinDesk reported that Liquid Network has gotten back 3,400 bitcoin from the white-hat hackers, with talks underway to recover the remainder. The network was preparing to restart following the incident, according to Cointelegraph.
Sources: Cointelegraph, Decrypt, CoinDesk
This article is for information only and is not financial advice.
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Story so far 6 updates
- storyLiquid Network Halts Operations After Hackers Withdraw $320 Million in Bitcoin, Claim to Be 'White Hats'first reported · 3 sourcestheblock.co · coindesk.com · cointelegraph.com
- storyLiquid Network Hackers Return $270M of $320M Bitcoin Taken From Sidechainupdate · 4 sourcestheblock.co · coindesk.com · cointelegraph.com · decrypt.co
- storyLiquid Network Hackers Return $270M of $320M Bitcoin Haul After Vulnerability Patchedupdate · 4 sourcestheblock.co · coindesk.com · cointelegraph.com · decrypt.co
- storyLiquid Network Sidechain Pauses After Purported White-Hat Hackers Withdraw $320 Million in Bitcoin, Later Return Most of Itupdate · 4 sourcestheblock.co · coindesk.com · cointelegraph.com · decrypt.co
- storyLiquid Network White Hats Return $270M of $320M Bitcoin After Sidechain Exploitupdate · 3 sourcescointelegraph.com · decrypt.co · coindesk.com
- storyLiquid Network Hackers Return $270M of $320M in Bitcoin After Blockstream Patches Vulnerabilityupdate · 3 sourcescointelegraph.com · decrypt.co · coindesk.com
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