Source: International Business Times
The $320 million Bitcoin theft occurred through SideSwap, a platform authorized to process withdrawals from Liquid Network, rather than through the theft of a cryptographic key. Unsplash/Ewan Kennedy Hackers withdrew roughly 4,000 Bitcoin worth about $320 million from Liquid Network, draining about 95% of the Bitcoin held in the network's federation wallet and forcing the Bitcoin-linked settlement system to halt new transactions. Liquid said the Bitcoin was taken from a wallet that held about 4,200 BTC and described those responsible as "purported white-hat hackers," a term commonly used for security researchers who identify vulnerabilities rather than exploit them for conventional theft.
