Hackers drain $320 million in Bitcoin from Liquid Network, emptying roughly 95% of federation wallet — attackers claim they’re the ‘good guys’ and will return funds after the vulnerability is fixed

Hackers drain $320M in Bitcoin from Liquid Network, claim they're the good guys

Liquid Network lost 4,000 BTC ($320M) to white-hat hackers who promise repayment after the vulnerability is patched. Federated sidechain governance lacks Bitcoin's security model: custody delegation creates critical risk for financial institutions relying on L-BTC.