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Liquid Network Hacker Still Holds 598.5 Bitcoin as L-BTC Redemption Channel Remains Suspended for 11 Days

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Odaily News: The Liquid Network attacker has returned 3,400 Bitcoin following the September 6 exploit, accounting for approximately 85% of the transferred assets; the attacker still holds 598.50 Bitcoin, worth over $45 million.

Blockstream, the digital asset infrastructure company that maintains the Liquid Network, has refused to pay a ransom for the remaining assets and is demanding the return of the Bitcoin. The network shows 4,234.76 L-BTC in circulation, while the Bitcoin reserve stands at only 3,632.23.

The L-BTC to Bitcoin redemption function has still not been restored, with Sideswap stating that redemptions are currently unavailable; Blockstream founder Adam Back said that L-BTC will be covered 1:1 by the Bitcoin reserve and warned holders not to sell L-BTC over the counter at a discount.

As of now, Blockstream has not issued an announcement that "redemptions are live." The attacker's wallet continues to receive on-chain messages and has been targeted by address poisoning attacks and scam messages, which induce transfers by generating visually similar addresses. (Bitcoin.com News)

This content is for informational and educational purposes only and does not constitute investment advice related to BTCC. BTCC makes every effort but cannot guarantee the truthfulness, accuracy, or originality of the content above.