Bitcoin Settlement Network Liquid Hit by Over $300 Million Security Exploit

The Liquid Network, a Bitcoin-based settlement platform developed by Blockstream, has suspended new transactions following a security breach that resulted in the withdrawal of approximately $320 million in Bitcoin. The network, managed by a federation of over 80 firms, reported that roughly 4,000 of the 4,200 Bitcoin held in the affected wallet were taken by individuals claiming to be white-hat hackers.