Key Takeaways
Bitcoin Magazine reports that white hats returned 3,400 BTC to the Liquid Network federation wallet after on-chain talks, keeping 598.5 BTC as an implied finder's fee.
According to reporting by Bitcoin Magazine, a white hat party that withdrew nearly 4,000 bitcoin from the Liquid Network federation wallet returned 3,400 BTC to the wallet. Approximately 598.5 BTC, amounting to 15% of the consolidated funds and valued at around $48 million, remained at the holder address as an implied bounty fee. The return transaction was confirmed on September 7.
The transfer followed a series of messages communicated via Bitcoin blocks using OP_RETURN data fields and PGP signatures between the white hats and a Blockstream-linked address. The white hats initially asked whether returning most of the funds to the federation script was acceptable and requested that the bug be fixed before transferring the funds back safely. Blockstream later confirmed that bridge nodes were patched.
Following the return of the funds, several encrypted messages were exchanged between Blockstream and the white hats, concluding with a sad face emoji from the white hats. Bitcoin Magazine notes that Blockstream has made no public statements regarding the matter, and the exact contents of the encrypted messages remain unknown. Liquid's Sunday statement previously noted that the L-BTC originated from an Elements bug and that the sidechain was paused.
Source & Fact-Check Note
This report is synthesized from coverage by Bitcoin Magazine. Information has been fact-checked and structured for market clarity by CoinQuickly’s research desk.
Read original article at Bitcoin Magazine ↗
