Bitcoin · Decrypt
Blockstream Refuses Ransom for Return of $47 million in Bitcoin from Liquid Hack: 'It Is Theft'
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Blockstream has refused to pay for the return of the $47 million in Bitcoin still missing from the Liquid Network, abandoning days of negotiation with the people who took it.
Key facts
- Around 4,000 BTC was drained from the sidechain on Sunday, worth about $320 million
- In a Bitcoin transaction on Wednesday, the exploiters wrote that Blockstream had allocated "only $1.5M (maybe even 0) to secure $5B assets," calling it "a flagrant neglect of security
- Blockstream has refused to pay for the return of the $47 million in Bitcoin still missing from the Liquid Network, abandoning days of negotiation with the people who took it
- They wanted 10% "using your own money as bug bounty," or "you will cause all your holders a 15% loss for your irresponsibility and stinginess
Summary
Blockstream said it will not "pay a ransom" for the return of about 598.5 BTC still held after the Liquid exploit. The hackers returned 3,400 BTC on Monday, about 85% of what was taken. The company said it will work with law enforcement, exchanges and forensic specialists to trace the rest should it not be returned. "Taking assets without authorization and withholding their return is a crime, not responsible disclosure," the company said on Friday.