Several Bitcoin businesses tied to early cryptographer and Blockstream co-founder Adam Back are facing pressure, according to Techub News. The report said Blockstream-backed Liquid Network was previously hit by a security incident worth about $320 million, with roughly 4,000 BTC moved out. The attacker later returned 3,400 BTC, but still kept BTC valued at about $47 million. At the same time, BSTR, the Bitcoin treasury company where Back serves as CEO and co-founder, has ended its business merger with Cantor Equity Partners I. Separately, Blockstream’s spun-out Bitcoin mining business is working with Exacore, which has recently become involved in multiple legal disputes tied to equipment procurement, contractor payments, and electricity bills. The item cited Wu Blockchain and was published by Techub News as a market analysis brief.
Several Bitcoin businesses linked to early cryptographer and Blockstream co-founder Adam Back have come under pressure in recent weeks, according to Techub News.
One of the setbacks involves Liquid Network, launched by Blockstream. The network was previously hit by a security incident worth about $320 million, with roughly 4,000 BTC transferred out. The attacker later returned 3,400 BTC, but still retained BTC valued at about $47 million.
At the same time, BSTR, the Bitcoin treasury company where Back serves as CEO and co-founder, has terminated its business merger with Cantor Equity Partners I.
Separately, Blockstream’s spun-out Bitcoin mining business is cooperating with Exacore. Techub News said Exacore has recently been drawn into multiple legal disputes involving equipment purchases, contractor payments, and electricity bills.
The brief cited Wu Blockchain.
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