Bitcoin-based Liquid Network says US$320 million withdrawn in hack

Liquid Network, a Bitcoin-based payments and settlement network, said on Sunday that about US$320 million (HK$2.5 billion) was withdrawn from its federation wallet in a hack.

"Purported white-hat hackers" withdrew around 4,000 of the 4,200 bitcoin held in its Liquid Federation wallet, Liquid Network said in a post on X.

"Liquid wallets will be impacted, and we're sorry for any inconvenience," Liquid Network said, adding that it has halted new transactions.

The funds were withdrawn via SideSwap, a settlement platform permitted to handle withdrawals from the network, though the key used in the process was not compromised, Liquid Network added.

Reuters

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