Liquid Network Releases Emergency Patch for Elements v23.3.4

Liquid Network has released an emergency update, Elements v23.3.4, to address a vulnerability in the proof verification cache. Functionary nodes are currently upgrading, and all node operators are advised to follow suit. Blockstream is developing a three-stage recovery plan: resuming block production while keeping peg operations paused, replaying verified transactions, and finally restoring peg operations. The network warns users to avoid phishing sites and only rely on official channels for updates.