Liquid Network pauses after purported ‘white-hat’ hackers withdraw $320 million in bitcoin
60-second summary
Blockstream pauses the Liquid Network after alleged white‑hat hackers siphon roughly $320 million in Bitcoin, prompting exchanges to halt LBTC deposits and withdrawals while the firm seeks the perpetrators. The freeze underscores security vulnerabilities in sidechains, pressures liquidity providers, and may trigger broader caution among investors and traders across the cryptocurrency market.
The Bitcoin sidechain has been paused, with exchanges suspending LBTC deposits and withdrawals as Blockstream works to contact those responsible.