Liquid Network says $320 million withdrawn during hack in Singapore
In Singapore, the bitcoin-based Liquid Network, designed for payments and settlements, said that about $320 million was withdrawn from its federated wallet during an incident it described as a hack. Channel NewsAsia reports, citing Reuters.
Bitcoin withdrawals
According to Liquid Network, on September 6, around 4,000 of the 4,200 bitcoins stored in its federated wallet were withdrawn. In a post on the social network X, the network said the operation was purportedly carried out by white-hat hackers.
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New transactions suspended
Liquid Network said the incident would affect Liquid wallets and apologized to users for the inconvenience. The network also said that new transactions had been suspended.
Operation through SideSwap
According to Liquid Network, the funds were withdrawn through SideSwap, a settlement platform authorized to process withdrawals from the network. Liquid Network added that the key used in this process had not been compromised.
