SideSwap restores payouts with 60 BTC sent across 600 redemptions

CIE News ·

Confirmed by independent sources.

SideSwap processed 600 redemptions and paid out 60 BTC on October 21, 2026, using its own merchant wallets while Liquid Network reserves remain at 85.8% backing following a software exploit.

SideSwap announced on October 21, 2026, that it restored bidirectional swaps and processed 600 redemption requests, paying out 60 BTC. The platform is fulfilling redemptions 1:1 on a queued basis via merchant hot wallets, according to The Defiant. Liquid Network federation reserves retain a 602.53 BTC deficit stemming from an unauthorized minting flaw in Elements validation software, leaving 3,632.23 BTC backing 4,234.76 Liquid Bitcoin (L-BTC) at an 85.8% ratio.

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Read the original at trmlabs.com

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