Bitcoin hack drains US$320mil from crypto network
Roughly 4,000 of the 4,200 Bitcoin held in a Liquid Network wallet were stolen in the latest breach to hit digital-asset security.
A major blockchain used by several cryptocurrency exchanges to transfer Bitcoin was hacked for US$320 million, the latest in a series of security breaches raising concerns about the safety of digital assets. Roughly 4,000 out of 4,200 Bitcoin stored in a Liquid Network wallet were stolen, according to the platform operator. The hackers are believed to be "white-hat hackers" who often return the funds, sometimes for a fee.
Liquid Network, operated by a federation of over 80 exchanges and asset managers, halted all new transactions and apologized for the inconvenience. The hackers returned 3,400 Bitcoin, leaving about US$47 million in their possession. This hack is part of a series of recent attacks that have highlighted the need for improved cybersecurity in the crypto industry.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Bitcoin hack drains US$320mil from crypto network freemalaysiatoday.com
