Liquid Network loses 3,998.5 BTC ($319.5M) to attacker posing as white-hat hacker

AI Market Summary
Reports that 3,998.5 BTC (~$319.5M) were drained from Liquid Network by an actor claiming "whitehat" status elevate counterparty and bridge/security risk across the Bitcoin ecosystem. Even if funds are later returned, the incident can impair liquidity, raise exchange/sidechain risk premia, and pressure near-term sentiment as market participants reassess custody and network security assumptions.
Impact level
● High
Affected assets
BTC/USDT+0.04%
AI Insight · BTC/USDTAI Insight
▼ Bearish
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Liquid Network reported that an attacker who described themselves as a white-hat hacker drained 3,998.5 BTC, valued at about $319.5 million.