The Liquid Network, established by Blockstream in 2018, confirmed a security breach involving the theft of thousands of bitcoins. The incident occurred at a settlement exchange utilized by multiple cryptocurrency platforms, with the total value of stolen assets estimated at $340 million.
Following the breach, the network suspended all operations. Reports indicate that the attacker exploited a software vulnerability to withdraw the funds. The hacker stated they would return the assets on the condition that Blockstream addressed the identified bug.
Former Blockstream executive Samson Mow announced that the company successfully patched the vulnerability. Approximately 3,400 of the 4,000 stolen bitcoins have been returned to the network. The remaining 600 bitcoins, valued at roughly $47 million, currently stay in the hacker's possession.
The platform remains offline while the team implements further security enhancements and system fixes. This incident is currently listed among the largest digital asset thefts recorded by the Rekt leaderboard, which monitors cryptocurrency security breaches.
