Adam Back, Blockstream’s co-founder and a historic figure in Bitcoin, is navigating a difficult period across three separate matters. On September 6, 2026, Liquid Network suffered a hack enabling the withdrawal of approximately 4,000 BTC, of which 3,400 were later returned, while some 598.5 BTC, worth roughly $47 million, remain in the attackers’ hands. Several legal disputes also concern Blockstream’s former mining operations, now separated from the group under the Exacore name, including a claim by River Financial for approximately $6.7 million. Lastly, BSTR Holdings, the Bitcoin treasury company co-founded by Adam Back, abandoned its Nasdaq listing plan via a Cantor Equity Partners SPAC, facing a termination penalty of $15 million.
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