Bitcoin-based Liquid Network says $320 million withdrawn in hack

On September 6, the Liquid Network, a Bitcoin-based payments and settlement network, announced a hack resulting in approximately $320 million being withdrawn from its federation wallet. The hackers, claimed to be white-hat hackers, removed around 4,000 of the 4,200 bitcoins stored in the Liquid Federation wallet, according to a statement on X. Liquid Network expressed regret for the inconvenience caused and announced that they have halted new transactions.

The funds were transferred through SideSwap, a settlement platform authorized to manage withdrawals from the network. However, the issue did not stem from a compromised key. Users are advised to stay informed via notifications for the latest updates on this developing story.