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$BTC is in focus as Blockstream's Liquid Network, a Bitcoin sidechain, halted operations after a group identifying themselves as white-hat researchers withdrew 4,000 BTC, or $320 million, from the network.
The actors told Blockstream they would return most of the withdrawn funds after a vulnerability in Elements, the software underlying Liquid, is patched across the network.
The next concrete development to watch is that patch and any Blockstream statement on the status of the 4,000 BTC. The white-hat framing shifts the read on the withdrawal.
Rather than a clean seizure, the actors presented Blockstream with a conditional return: most of the 4,000 BTC comes back, but only after the Elements vulnerability is remediated across every participant in the Liquid Network.
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