Liquid Network Suspends Operations After $320 Million BTC Exploit

Liquid Network has suspended operations following a security incident where a 'white hat' hacker drained approximately 4,000 BTC, valued at roughly $320 million, from its Federation wallet. This represents 95% of the network's reported reserves. Major exchanges have halted LBTC deposits and withdrawals. Blockstream is currently attempting to contact the responsible party. Liquid stated that the funds were withdrawn via SideSwap PAK, noting that the key and other security measures were not compromised.