Liquid Network said on Sept. 9 that it has released an emergency Elements v23.3.4 update and urged all Liquid node operators to upgrade, as functional nodes were already moving to the new version. The release fixes a proof verification cache vulnerability by strengthening the cache key used for range proofs, according to the network’s notice. Liquid added that the patch has gone through multiple rounds of internal and external review involving teams including Bitcoin Red Team and Alpen Labs.
The network also outlined an initial recovery plan. It intends to resume block production first while peg operations remain paused, then replay transactions that have already been verified as valid, and only restore peg operations after the network is fully recovered and funds have been returned. Blockstream is testing the first two phases in parallel, and said the order and implementation details could change depending on test results. Liquid also warned that scammers have set up fake update websites and told users to rely only on official Liquid Network and Blockstream channels, and not to send funds to unknown parties or reveal private keys or seed phrases.
Liquid Network released an emergency Elements v23.3.4 version on Sept. 9, with functional nodes upgrading immediately and all Liquid node operators advised to update as well, according to BlockBeats.
The release fixes a proof verification cache vulnerability. Liquid said the change strengthens the cache key used for range proofs to improve security. The fix has already undergone multiple rounds of internal and external review involving teams including Bitcoin Red Team and Alpen Labs.
Initial recovery plan has three stages
Liquid Network also published an initial recovery plan.
- First, block production will resume while peg operations remain paused.
- Next, the network will replay transactions that have already been verified as valid.
- Finally, peg operations will resume only after the network has fully recovered and funds have been returned.
Blockstream is testing the first two stages in parallel. The company said the exact order and implementation could be adjusted based on testing results.
Users warned about fake update sites
Liquid Network said scammers have already set up fake update websites around the incident. Users were told to rely only on official channels run by Liquid Network and Blockstream, and not to send funds to unknown parties or disclose private keys or seed phrases.
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