Blockstream founder Adam Back said Liquid Network will return to operation and that LBTC will continue to maintain a 1:1 peg with BTC. He also urged users not to panic sell in over-the-counter markets. Back said the team is working on additional system updates. Liquid Network, a Bitcoin sidechain developed and maintained by Blockstream, issued an emergency update yesterday, Elements v23.3.4, to fix a proof verification cache vulnerability. The statement came through Back’s post, which directly addressed concerns around the network’s status and the peg between LBTC and BTC. No further operational timeline was disclosed in the source provided, but the message indicated that recovery work and follow-up updates are in progress.
Blockstream founder Adam Back said Liquid Network will resume operations and that LBTC will remain pegged 1:1 to BTC. He also told users not to panic sell in over-the-counter markets.
Back said the team is pushing more system updates.
Emergency update released yesterday
Liquid Network is a Bitcoin sidechain developed and maintained by Blockstream. Yesterday, it released an emergency update, Elements v23.3.4, to fix a proof verification cache vulnerability.
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