Liquid Network Releases Emergency Elements v23.3.4 Update to Patch Vulnerability

Liquid Network has released an emergency update, Elements v23.3.4, to fix a proof verification cache vulnerability and strengthen cache keys for range proofs. Functionary nodes have been updated, and all node operators are advised to upgrade. The fix underwent multiple reviews by teams including Bitcoin Red Team and Alpen Labs. The network recovery plan is ongoing, involving block production restoration, transaction replay, and eventual peg operation resumption, with security checks at each stage.