Hackers have withdrawn ~4k BTC (~$320M) from the Liquid Federation wallet

(twitter.com)

33 points by felipelalli1 hour ago

6 comments

cypherpunks015 minutes ago
Seems that an Elements rangeproof cache bug may've gotten exploited. A "fix" was committed last week and attackers could have just monitored the public commits and exploited the bug before fix was ever pushed? That's a leading theory anyhow.<p>fix: range proof cache bind to asset and scriptpubkey<p><a href="https://github.com/ElementsProject/elements/commit/c26d719c29" rel="nofollow">https://github.com/ElementsProject/elements/commit/c26d719c2...</a>
Daviey42 minutes ago
<a href="https://xcancel.com/Liquid_BTC/status/2096696272447218108#m" rel="nofollow">https://xcancel.com/Liquid_BTC/status/2096696272447218108#m</a>
- mitxela41 minutes ago
  Xcancel is back? When did that happen?
  - embedding-shape39 minutes ago
    <a href="https://news.ycombinator.com/item?id=49588988">https://news.ycombinator.com/item?id=49588988</a> "Nitter and XCancel resume service after legal advice" 5 hours ago
skinfaxi52 minutes ago
Why do they say it's white hat hackers?
- tom_47 minutes ago
  <i>Purported</i> white-hat hackers. The implication is that these people are presumably describing themselves as such, but it may not actually be true.
- faitswulff16 minutes ago
  The same reason scam artists describe themselves as businessmen
- simonw49 minutes ago
  Presumably to try and reduce the chance of a mass panic among their users.
  - mvdtnz42 minutes ago
    What do they care if there's a panic? They have "paused the sidechain". No one can act on their panic.
    - cool_dude8531 minutes ago
      Wasn't this all supposed to be decentralized? How can a foundation choose to unilaterally "pause the sidechain"?
      - Kranar17 minutes ago
        BTC Liquid Network is not decentralized and does not purport to be. It's a federated sidechain, that is... it's a blockchain that runs alongside the Bitcoin blockchain (using a two-way peg that lock real BTC on the Bitcoin blockchain and issues an equivalent amount of Liquid BTC on the Liquid sidechain) but blocks can only be added to the Liquid Network sidechain by some of the handpicked members of the federation.
xyst34 minutes ago
It’s not "hackers". It’s an inside job, and a rug pull.
- fxwin25 minutes ago
  how is it a rug pull? if it's an inside job, doesn't that just make it theft?
  - knorker12 minutes ago
    What's the difference to you between a rug pull and theft?
walrus0141 minutes ago
/r/buttcoin strikes again
iwontberude57 minutes ago
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