Liquid Network paused operations after a purported $320 million Bitcoin withdrawal from multisig reserve addresses. The party behind the transaction claimed to have acted as a white-hat to protect funds from a suspected security flaw. Bitcoin mainnet was not affected, as the incident only concerns Liquid, Blockstream’s Bitcoin sidechain, where operators halted transaction processing for review. The federation managing funds locked in Liquid decided to suspend the network as a precautionary measure. Operators have yet to publish a full incident report before confirming the white-hat nature of the operation.
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