An unknown hacker stole about 4,000 bitcoins worth approximately $340 million from a Liquid Network wallet and later returned most of the assets. Liquid Network suspended operations pending resolution of the incident, TechCrunch reports.
About 3,400 bitcoins returned
Liquid Network, launched by crypto company Blockstream in 2018, is used by several cryptocurrency exchanges for settlements. In a statement on social network X, the network called the perpetrator a “white hat hacker” and reported that funds had been stolen from its wallet.
The hacker’s identity has not yet been established. According to crypto media, he allegedly exploited a vulnerability to withdraw the assets and said he would return them provided that Blockstream fixed the vulnerability.
More current news is available on the UA.News Telegram channel Telegram.
Network operations will not be resumed
Former Blockstream employee Samson Mow said on X that the company had fixed the vulnerability. According to him, approximately 3,400 of the nearly 4,000 stolen bitcoins were returned.
Another approximately 600 bitcoins, valued at $47 million, remained under the hacker’s control. Mow also said that Liquid Network operations would be suspended until additional fixes and security measures are implemented. According to the Rekt ranking, which tracks cryptocurrency thefts, this case is among the largest thefts of digital assets.
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