Liquid Network Freezes Redemptions for 35 Days
Photo: Coincu
Liquid Network has reportedly frozen Bitcoin redemptions for a 35-day window after an attacker gained control of funds reported to be worth $49.69 million in Bitcoin, according to unconfirmed reports circulating as of this writing. The freeze halts the specific redemption function on the network, leaving users unable to convert Liquid Bitcoin (L-BTC) back to on-chain BTC for the duration of the stated period. The reported action targets the redemption mechanism that allows Liquid Network participants to exit L-BTC positions back to the Bitcoin base layer.
Source: Coincu
