Liquid Network Restores Full Bitcoin Backing After $320M Exploit
Liquid Network, Blockstream’s Bitcoin sidechain, has restored full reserves backing its bitcoin IOUs after an exploit tied to the Elements codebase drained Liquid’s bitcoin IOUs are fully backed again after a $320 million exploit.
, according to CoinDesk.
The restored backing satisfies a condition required before direct federation withdrawals can resume, though those withdrawals were last reported operating under enhanced operational controls, according to The Defiant.
Blockstream CEO Adam Back said the network’s defenses have been hardened since the exploit and warned developers against blindly trusting AI-suggested code fixes, according to Decrypt.
Sources: The Defiant, CoinDesk, Decrypt
This article is for information only and is not financial advice.
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