Blockstream to Liquid Network Hacker: ‘Safe to Return the Funds’

Crypto Insight Summary: As the major Bitcoin sidechain Liquid Network has been paused due to an around $320 million hack, the absolute majority of the key players in the network haven’t issued any statements, while L-BTC is now backed by only 4.7% of the required bitcoin, as Blockstream says it’s “safe to return the funds.” In the most […] Crypto Insight Analysis: Direction: Bearish L-BTC Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: Liquid Network hack undermines confidence in sidechain assets, but impact is limited to L-BTC.