The Liquid Federation announced it has restored 1:1 Bitcoin backing for all LBTC tokens nearly two months after a software flaw allowed an attacker to drain approximately $320 million in BTC from its reserves.
Bitcoin pioneer Adam Back's business ventures are struggling amid multiple challenges, including a $6.7 million lawsuit filed by River Financial against Blockstream Services Canada over a canceled mining services contract. The developments come as the crypto industry undergoes another major shakeout.
Blockstream has refused to pay a ransom for nearly 600 bitcoin still held by hackers who exploited the Liquid Network on September 6, draining approximately 4,000 BTC (worth $320 million) from federation reserves. The attackers had demanded a 10% bounty payment and used on-chain messages to communicate their demands.
Strive purchased 1,375 BTC for approximately $109 million between Aug. 31 and Sept. 4, bringing its total holdings to 24,531 bitcoin. Separately, Blockstream CEO Adam Back invested $33 million in European bitcoin treasury firm Capital B, highlighting growing institutional adoption of bitcoin treasury strategies.
Self-described white-hat hackers returned 3,400 of nearly 4,000 bitcoin stolen from the Liquid Network's federation reserves on September 6, but retained approximately 598.5 BTC worth $47 million. The sidechain remains frozen as Blockstream prepares a restart.
Self-described white-hat hackers returned 3,400 of nearly 4,000 bitcoin stolen from the Liquid Network's federation reserves on September 6, but retained approximately 598.5 BTC worth $47 million. The sidechain remains frozen as Blockstream prepares a restart.
Paris-listed bitcoin treasury firm Capital B acquired 376 BTC for €25.3 million ($29.4 million), its largest single purchase in a year, bringing total holdings to 3,521 BTC. The purchase follows a $33 million investment commitment from Blockstream CEO and proof-of-work pioneer Adam Back.
Self-described white-hat hackers withdrew approximately 4,000 BTC (worth $320 million) from Blockstream's Liquid Network sidechain on September 6, forcing a network halt. The hackers are holding the funds until developers prove they've patched the critical vulnerability that enabled the exploit.
Bitcoin sidechain Liquid Network paused operations after individuals claiming to be white-hat hackers withdrew approximately 4,000 BTC (worth $320 million) from the network's federation wallet, exploiting a vulnerability in Blockstream's Elements software. The hackers made a conditional offer regarding the funds.
Blockstream's Liquid Network disabled its bridge nodes after approximately 4,000 BTC ($320 million) were withdrawn from the federation wallet to a single address. The withdrawer left an on-chain message stating "we are whitehats."
Blockstream Research published a draft Bitcoin improvement proposal for SHRINCS, a hash-based post-quantum signature scheme relying only on SHA-256. The design targets roughly 3 transactions per second under the witness discount and would require a soft fork to activate.
The Bitcoin Policy Institute, backed by Coinbase, Blockstream, and Strategy, launched an initiative urging AI companies to provide early access to frontier AI models for Bitcoin and open-source developers to strengthen cybersecurity defenses. The push follows an incident where a vetted Bitcoin researcher was blocked from accessing AI cybersecurity tools.
