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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.
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⚡ Weekly Recap: Zero-Day Exploits, Insider Threats, APT Targeting, Botnets and More
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Hackers Return $263 Million Stolen From Liquid Network
Hackers drain roughly 4,000 BTC (~$320M) from Liquid Network federation wallet, then return 3,400 BTC with ~598 BTC still outstanding.
Attackers withdrew about 4,000 Bitcoin (roughly $320 million) from the Liquid Network federation wallet, which held approximately 4,200 BTC, via the SideSwap Peg-out Authorization Key without that key being compromised. Blockstream disabled nodes and suspended transactions after disclosing the heist on Sunday. Alleged white-hat hackers returned 3,400 BTC (~$262.6M) on Monday, demanding the underlying bug be patched before releasing the remaining ~598 BTC (~$47M). The network remains paused while fixes and a safe restart are prepared.
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A hacker stole $340M in a crypto heist, then returned most of it
A hacker exploited a bug to steal about 4,000 BTC (~$340M) from Blockstream's Liquid Network, then returned roughly 3,400 BTC after the bug was fixed.
A hacker exploited a bug to withdraw roughly 4,000 bitcoins worth about $340 million from Liquid Network, a settlement service launched in 2018 by crypto firm Blockstream and used by several cryptocurrency exchanges. Liquid Network paused operations, and the hacker, described as a white hat, offered to return the funds once the bug was fixed. Former Blockstream executive Samson Mow said the bug was fixed and about 3,400 BTC (~$293M) returned, leaving roughly 600 BTC (~$47M) under the hacker's control pending further security improvements. Rekt's leaderboard ranks the heist among the largest cryptocurrency thefts to date.
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⚡ Weekly Recap: Chrome 0-Day, AI Hacking Tools, DDR5 Bit
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