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Liquid restored one-to-one Bitcoin backing for LBTC two months after an exploit; Blockstream CEO Adam Back listed new cold-storage authorization keys, disabled validation caches, hardened consensus rules, and third-party audits as safeguards.
The Liquid Network said it had entered the final recovery stages after an inflation bug let attackers create unauthorized LBTC and exchange it for real Bitcoin. Blockstream said most of the stolen funds were returned through a white-hat operation, but the attackers kept about 600 Bitcoin; the network was working to restore one-to-one backing and re-enable authorized peg-outs.
Keon said an attacker withdrew roughly 4,000 BTC from Liquid, returned about 3,600 BTC, and kept roughly 400 BTC as a claimed bounty. Liquid’s blocks were running again, but normal peg-outs remained unavailable after 30 days; Keon said Blockstream could restore the peg, take a haircut from users, or leave funds trapped.
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