Liquid says Bitcoin IOUs are fully backed after exploit
BROBROK News · Based on reporting by CoinDesk ·
Liquid said its bitcoin IOUs are fully backed again after a final transfer of 250 BTC. The move closed the gap left by a September bug tied to a $320 million exploit, although the federation behind the network has not said who covered the cost.
Key points
- A final 250 BTC transfer filled the reserve shortfall
- The gap followed a bug exploited in September
- The exploit was linked to a $320 million loss
- Liquid says the bitcoin IOUs are backed in full again
- The federation has not disclosed who paid to restore coverage
Why it matters
The case highlights operational and custody risks in systems that rely on backing to maintain trust. It also shows that a technical recovery can happen before there is transparency about who absorbed the loss.
Original headline: “Liquid’s bitcoin IOUs are fully backed again after a $320 million exploit”
Summary and analysis written by BROBROK News from the original report. Read the full story on the source website. Not investment advice.