Liquid Network, the settlement network launched by Blockstream in 2018, reported that a hacker removed funds from its wallet in a major crypto incident involving roughly 4,000 bitcoins, valued at about $340 million.
The company said the network was temporarily paused while the issue was addressed. According to statements shared by former Blockstream executive Samson Mow, the underlying bug was fixed and most of the assets were sent back.
By Monday, around 3,400 bitcoins had reportedly been restored, while about 600 bitcoins, worth roughly $47 million, remained under the hacker's control. The incident was described as one of the largest digital asset thefts tracked this year.
Liquid Network said operations will stay on hold until further security upgrades and additional checks are completed before the system resumes. The episode highlights how fast technical response and stronger safeguards are becoming central to the future of digital finance.
