Crypto Heist Aftermath: Liquid Recovers 3,400 BTC, White Hats Pocket 598.5 BTC Bounty!
A "White hat" party withdrew 4,000 BTC from the Liquid Network but later returned 3,400 BTC, retaining 15% as an implied finder's fee. This act sparked a complex on-chain dialogue between the "White hats" and Blockstream, highlighting a critical bug and contentious negotiations over the substantial bounty.David Isong • Crypto • 1 day ago • 1 minute read •
Key Points
• A "White hat" party initially withdrew approximately 4,000 BTC from the Liquid Network's federation wallet.
• The Liquid sidechain was temporarily paused, but its peg was not compromised and other assets remained unaffected.
• The "White hat" party returned 3,400 BTC to the wallet, retaining 598.5 BTC as a bounty.
A significant event unfolded on the Liquid Network, involving a “White hat” party that initially withdrew approximately 4,000 bitcoin (BTC) from the network's federation wallet. This withdrawal occurred on a Sunday, leading to a temporary pause of the sidechain, though Blockstream clarified that the Liquid peg (PAK) itself was not compromised, and other issued assets remained unaffected.
The situation took a turn on Monday when the “White hat” party returned 3,400 BTC to the wallet. The remaining 598.5 BTC, representing about 15% of the consolidated sum and valued at nearly $50 million, was retained by the
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