Liquid Attack Leaves L-BTC Redemptions Paused, Attacker Holds Over $51 Million in Bitcoin

Odaily News: Canadian Bitcoin exchange and wallet company Bull Bitcoin stated that due to the Liquid Network attack on September 6, users are temporarily unable to redeem L-BTC back to Bitcoin through the platform, and redemption operations are still pending resumption.

Bull Bitcoin expects the related redemption service to potentially resume within 30 days, but stated that this expectation is not guaranteed. Due to its reliance on the L-BTC redemption mechanism to balance inventory, the platform has temporarily closed inbound Lightning Network payments.

In this attack, the attacker transferred out nearly 4,000 Bitcoin from the protocol, later returning approximately 3,400; currently still holding 598.50 Bitcoin, valued at over $51 million. Liquid Network stated on September 17 that block production, network transactions, and L-BTC transfers have returned to normal. (Bitcoin.com News)