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Bitcoin

0 mentions in 7 days · 4 in 30 days · 4 total · first seen Sep 6, 2026 · last 7d ago

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Hackers Drain $320 Million From Liquid Network, Then Return Most of It

Hackers exploited an Elements bug to drain about 4,000 BTC (~$320M) from Liquid Network's federation wallet, then returned 3,400 BTC after Blockstream patched.

An attacker drained roughly 4,000 of 4,200 BTC (~$320M) from Bitcoin's Liquid Network federation wallet on September 6 by exploiting a bug in Elements, the open-source code powering the sidechain, which allowed unbacked L-BTC tokens that were redeemed for real Bitcoin through SideSwap's authorized peg-out mechanism. The self-described white-hat attackers negotiated publicly via OP_RETURN on-chain messages, demanding the bridge nodes be patched before returning 3,400 BTC (~$262.6M) and keeping about 598 BTC (~$47M). Blockstream confirmed the affected bridge nodes were patched; the network remains paused while federation members complete security work, and experts debate whether the act legally constitutes extortion.

Security AffairsSep 8, 20:35 UTC · 7d agoExploit / PoC in the wild

Party’s Over for Crypto Scammers Who Went on a Spending Spree After a $240 Million Bitcoin Theft

Malone Lam's plea hearing approaches in the $240 million bitcoin social engineering theft; the case highlights surging crypto fraud and limited enforcement.

Malone Lam, accused of organizing a social engineering attack that stole over $240 million in bitcoin (4,100+ BTC) from a Washington, D.C. resident in August 2024, has a plea agreement hearing set. Callers impersonating Google and Gemini staff tricked the victim into revealing security codes. Lam and 17 co-defendants spent lavishly before FBI arrests; crypto investment fraud complaints to the FBI rose nearly 50% in 2025 while DOJ disbanded its crypto crimes unit.

SecurityWeekSep 8, 13:00 UTC · 7d agoPolicy & legal

Party’s over for scammers who went on spending spree after $240M bitcoin theft

AP report on scammers' spending spree after a $240 million bitcoin social engineering theft, as ringleader Malone Lam nears a plea agreement.

DataBreaches.net syndicates AP reporting on the $240 million bitcoin theft from a Washington, D.C. resident via social engineering calls impersonating Google and Gemini. Alleged ringleader Malone Lam, 22, faces a plea hearing; the scam network spent stolen funds on cars, jets, and mansions before FBI arrests. Crypto investment fraud complaints to the FBI rose nearly 50% in 2025.

DataBreaches.netSep 8, 11:32 UTC · 7d agoPolicy & legal

Hackers have withdrawn ~4k BTC (~$320M) from the Liquid Federation wallet

Hackers reportedly withdrew about 4,000 BTC (~$320 million) from the Liquid Federation wallet, according to a widely shared report on X.

A post on X reports that hackers withdrew roughly 4,000 BTC — valued near $320 million — from the Liquid Federation wallet. The source text provides no details on the compromise method, attribution, custody impact, or any organizational response. The story drew heavy attention on Hacker News (125 points, 86 comments), indicating broad community concern.

Hacker News · securitySep 6, 22:43 UTC · 9d agoData breach in the wildHN 125↑ · 86 comments

Appears with

vendor Google 2 threat actor Malone Lam 2 organization Justice Department 2 organization FBI 2 vendor Gemini 2 victim Washington D.C. crypto investor 2 product Elements 1 product L-BTC 1 threat actor Jeandiel Serrano 1 vendor Bitrue 1 vendor Blockstream 1 vendor Galoy 1 vendor Liquid Federation 1 vendor SideSwap 1 victim Liquid Federation 1 victim Liquid Network 1

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