Liquid’s bitcoin IOUs are fully backed again after a $320 million exploit

coindesk.com1 min read

The Liquid Federation has fully restored bitcoin backing for all LBTC tokens following a September software bug that allowed an attacker to drain most of its reserves. While the attacker returned 3,400 bitcoin, a final 250 bitcoin transfer closed the remaining shortfall, though the federation has not disclosed the source of the final missing funds. Users can currently swap bitcoin and LBTC 1:1 through providers like SideSwap, while direct federation withdrawals remain under enhanced operational controls. Open article →

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