Bitcoin-based settlement platform Liquid Network has suspended transactions after around 4,000 Bitcoin, valued at approximately $320 million, was withdrawn from its federation wallet.
Liquid said the funds were taken by “purported white-hat hackers” and has launched an investigation into the incident. The withdrawal reportedly represented about 95% of the Bitcoin held in the wallet.
The network has temporarily halted activity while Blockstream and federation members investigate how the withdrawal occurred. Liquid said the Bitcoin blockchain itself was not compromised, with the incident instead involving its federation infrastructure.
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