GoKawiilLiquid Network Loses $320 Million in Bitcoin Wallet Hack
Liquid Network, a Bitcoin-based payments and settlement platform, disclosed on Sunday that roughly 4,000 of the 4,200 bitcoin held in its Federation wallet were withdrawn without authorization, totaling about $320 million. The network described the perpetrators as "purported white-hat hackers" and warned that user wallets on the platform would be affected by the breach.
GoKawiil's interpretation of the reporting above, not reported fact.
A theft of this size from a federated wallet undermines confidence in Bitcoin sidechain infrastructure that promises faster, cheaper settlement while relying on multi-party custody arrangements. The vague framing of the attackers as possible white-hats leaves open whether funds could be returned, but it also highlights how little recourse users have when custodial security fails at this scale.
- About $320 million, or roughly 4,000 BTC, was drained from Liquid Network's Federation wallet.
- The network called the attackers "purported white-hat hackers," leaving the nature of the breach unclear.
- Liquid Network confirmed user wallets would be impacted by the incident.
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Published there as: “Bitcoin-based Liquid Network Says $320 Million Withdrawn in Hack”
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