Liquid Network pauses after purported ‘white-hat’ hackers withdraw $320 million in bitcoin
security
The Liquid Network paused operations after purported “white‑hat” hackers withdrew roughly $320 million worth of bitcoin from a federated wallet. Operators halted peg‑outs and other network activity to contain the incident and secure remaining funds. The event undermines trust in federated sidechains and custodial peg mechanisms, risking reduced institutional use and liquidity on Liquid and highlighting centralized custody risks for Bitcoin value transfer.
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