Technology
Crypto settlement network loses 4,000 bitcoins before hacker returns bulk of funds
TechCrunch reports that a hacker drained roughly $340 million in bitcoin from Liquid Network before returning most coins.
The short version
- A hacker drained roughly 4,000 bitcoins valued at around $340 million from a wallet belonging to Liquid Network, a settlement platform utilized by multiple cryptocurrency exchanges.[TechCrunch]
- Liquid Network suspended network operations after attributing the breach to a white hat actor who reportedly exploited a software vulnerability.[TechCrunch]
- Former Blockstream executive Samson Mow stated that the vulnerability was resolved and about 3,400 bitcoins were returned, leaving roughly 600 bitcoins under the perpetrator's control.[TechCrunch]
- The hacker's identity has not been publicly determined as operations remain halted pending additional security measures.[TechCrunch]
Key facts
- A hacker withdrew approximately 4,000 bitcoins valued near $340 million from a settlement network used by several digital asset exchanges.[TechCrunch]
- Liquid Network announced that a white hat hacker took the assets from its wallet, prompting a freeze on operations.[TechCrunch]
- Former Blockstream executive Samson Mow said the software flaw was resolved and about 3,400 bitcoins were subsequently restored.[TechCrunch]
- Around 600 bitcoins, valued at approximately $47 million, remain under the hacker's possession.[TechCrunch]
What remains uncertain
- The true identity of the hacker remains unconfirmed.[TechCrunch]
- The disposition and eventual return of the remaining 600 bitcoins remain unverified.[TechCrunch]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.