Blockstream Refuses Ransom Over Liquid Network Bitcoin Theft
Blockstream declined to pay for the return of Bitcoin taken from the Liquid Network, calling the removal theft and pledging to pursue legal recovery.
AfroEuropa Newsroom
AfroEuropa desk
Blockstream has declined to pay any ransom or reward to recover the remaining Bitcoin removed from its Liquid Network, maintaining that the unauthorized transfer of the assets amounted to theft rather than a responsible security disclosure, according to BitKE and Decrypt.
The incident began with the withdrawal of about 4,000 BTC from Liquid's reserves, valued at roughly $320 million at the time, BitKE reported. The parties behind the withdrawal described themselves as white-hat hackers and sought engagement with Blockstream while retaining control of the funds.
About 3,400 BTC was subsequently returned, leaving approximately 598.5 BTC still held by the attackers, according to both outlets. Decrypt reported that Blockstream has said it will turn to law enforcement if the outstanding funds are not returned.
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