Liquid Network at 86% Backing as Bitcoin Redemption Freeze Drags On

It has been 35 days since an attacker exploited a vulnerability in the Liquid Network’s Elements software, draining nearly 4,000 BTC from the protocol, and although 3,400 BTC has since been recovered, redemptions of LBTC for actual bitcoin remain suspended as an independent external security audit of Elements v23.3.4 is underway. Liquid users are still unable to redeem LBTC for bitcoin, with the protocol’s peg-out operations still suspended. The ordeal began more than a month ago when self-described white hat hackers exploited the layer two (L2) network and made off with nearly 4,000 BTC. By Sept.

Source: Bitcoin.com News