Approximately 3,996 BTC (worth $320 million) were moved in a single transaction on Blockstream's Bitcoin sidechain Liquid Network, with a fee of just $0.21. The operator left an on-chain message claiming to be a white hat hacker and returned 0.00001 BTC. The network uses a federated multisig mechanism requiring 11 members to sign. Most funds remain unmoved, the operator's identity is unknown, and Blockstream has not commented. A similar incident occurred in 2024 when the Ronin bridge attacker returned funds and claimed a bounty.
On September 6, Blockstream's Bitcoin sidechain, Liquid Network, saw a huge transfer: about 3,996 BTC, worth $320 million, sent to a new address in one transaction. The fee? Just $0.21. Tiny. The operator also left an on-chain message: "We are white hat hackers, please contact us on-chain," and later sent back 0.00001 BTC to the Liquid address.
Liquid Network runs on a federated multisig setup that needs 11 members to sign before funds can move. After the transfer, the L-BTC still on the network remains fully backed, so there is no insolvency. Most of the transferred funds still have not moved again. And the operator's identity, along with the motive, is still unknown. In a similar earlier case, the Ronin bridge attacker returned part of the funds in 2024 and said it was a bounty. Blockstream has not commented on the event yet. (BeInCrypto)
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