Liquid Network Halts Bitcoin Redemptions After Bug Exploit
The Liquid Network has suspended Bitcoin redemptions following a software bug exploit that resulted in a 603 BTC reserve shortfall.
The Liquid Network has halted Bitcoin redemptions following a software bug exploit that led to a reserve shortfall of 603 BTC, according to Pluang. The incident impacts user withdrawal processing as the network addresses the exploit and reviews its reserves.
Exploit Details
Instant Telegram notifications for large on-chain moves.
The protocol experienced an unauthorized extraction of funds stemming from a software vulnerability. The resulting discrepancy totals 603 BTC missing from the platform's reserves, prompting an immediate freeze on redemptions.
Network Response
Operations related to specific redemption functions remain suspended while technical teams investigate the software bug. Further updates on reserve recovery and functionality restoration are expected as the review continues.
Key facts
- Liquid Network halted Bitcoin redemptions
- The pause follows a software bug exploit
- A reserve shortfall of 603 BTC was recorded
Source: news.google.com
This article is for information only and is not investment advice. BullishMarketCap news is produced with AI assistance from public sources and reviewed by our editors; see our editorial policy. Spotted an error? Tell us.
