Liquid Network reports $320 million siphoned in alleged white-hat hack
Liquid Network said roughly $320 million was withdrawn from its federation wallet after a hack claimed by self-described white-hat actors.
The Bitcoin-based settlement system announced that about $320 million was taken from its federation wallet, with around 4,000 of the 4,200 bitcoins moved. The perpetrators described themselves as white-hat hackers and used the SideSwap platform for the withdrawals. Liquid Network confirmed the key used by SideSwap was not compromised and has stopped processing new transactions pending investigation.
Why it matters
A multi-hundred-million dollar crypto theft raises concerns about security in emerging digital-asset networks.
In this story
Liquid NetworkSideSwapbitcoinhackwithdrawalwhite-hatcryptocurrencysecurity breachfederation wallet
