Bitcoin network used by exchanges hit by $320 million exploit.

Bitcoin worth millions of dollars were withdrawn from a settlement network used by cryptocurrency exchanges, marking the latest in a string of security breaches that have plagued the market this year. The alleged “white hat hacker” is reportedly attempting to act ethically by offering to return the stolen funds once the vulnerability is fixed. Liquid Network, launched in 2018 by Blockstream, said purported “white-hat hackers,” removed roughly 4,000 of the 4,200 bitcoin held in its federation wallet. The network is overseen by a federation of more than 80 exchanges, infrastructure firms and asset managers. “Liquid wallets will be impacted, and we’re sorry for any inconvenience,” Liquid Network said on X, halting all new transactions. “Federation members are actively working on resolving this so we can restore normal network activity.”

Full report : Liquid Network, a settlement layer used by exchanges, halted all transactions after losing $320 million worth of bitcoin in a security exploit.