Bitcoin-based Liquid Network says $320 million withdrawn in hack

Sept 6 (Reuters) - ‌Liquid ​Network, ​a Bitcoin-based payments and settlement network, ‌said on Sunday that about $320 ⁠million was withdrawn from ‌its federation wallet ‌in a hack.

"Purported white-hat hackers" withdrew around 4,000 ​of the 4,200 bitcoin held in its ⁠Liquid Federation wallet, Liquid Network said ​in a post on X.

"Liquid wallets will be ​impacted, and we're ‌sorry for any inconvenience," Liquid Network ⁠said, adding that it has halted new transactions.

The ⁠funds were withdrawn via SideSwap, ​a settlement platform permitted to handle withdrawals from the network, ‌though the key used in the process ‌was not compromised, ⁠Liquid Network ‌added.

(Reporting by ​Gnaneshwar Rajan in Bengaluru; Editing by Mrigank ‌Dhaniwala)

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