Liquid Network, the layer-2 solution created by Blockstream, announced on Tuesday that it has entered the final phase of recovery following the September hack. Hackers had stolen 4,000 bitcoins, worth approximately $320 million at the time, by exploiting an inflation bug on the sidechain to create fictitious LBTC tokens. Blockstream negotiated the return of most of the funds, but the attackers kept 15% of the loot, roughly 600 bitcoins worth close to $50 million. Full restoration requires reestablishing the 1:1 bitcoin backing ratio and the controlled reactivation of peg-outs for authorized PAK key holders.
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