Bitcoin network says $320m stolen in latest crypto hack
In its post on X, Liquid Network said the funds were withdrawn via SideSwap, a settlement platform authorised to handle transfers from the network, but that the key was not compromised.
The Liquid Network, a Bitcoin-linked blockchain, has been hacked for $320 million. The hack involved the theft of roughly 4,000 of the 4,200 Bitcoin held in its Liquid Federation wallet.
According to Liquid Network, the perpetrators are "purported white-hat hackers" who move funds after finding vulnerabilities with the intention of returning them, often for a fee. The funds were withdrawn via SideSwap, a settlement platform authorised to handle transfers from the network.
Liquid Network has halted all new transactions and its federation members are working to resolve the issue and restore normal network activity. The hack is the latest in a string of recent attacks that have put crypto cybersecurity in the spotlight.
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