Liquid Network restores bitcoin IOU backing after $320 million exploit
CIE News ·
Based on reporting by CoinDesk; not yet independently confirmed.
Liquid Network bitcoin IOUs are reportedly fully backed again following a $320 million exploit in September, after the federation finished replenishment with a 250 BTC transfer from an undisclosed funder.
The Liquid Network has restored full backing for its bitcoin IOUs following a $320 million exploit that occurred in September, according to CoinDesk. The network federation finalized the recovery with a transfer of 250 Bitcoin (BTC) to resolve the deficit. The federation has not disclosed the identity of the party that funded the replenishment.
Key facts
- $320M exploit in September
- 250 BTC final transfer
- Liquid Network
- Fully backed status restored