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BTC Blockstream and white-hat hackers dispute escalates
According to Samson Mow's latest update, the dispute between Blockstream and the party claiming to be white-hat hackers has taken a sharper turn. The hacker accused Blockstream of serious security flaws and said the company allocated only $1.5 million, possibly even without a penny, to try to protect $5 billion worth of assets.
Fierce conflict and severe criticism
The hackers dismissed the move as a "blatant disregard for security" and demanded that Blockstream pay a 10% vulnerability bounty from its own funds, warning that if this obligation was not fulfilled, Liquid users would face a 15% loss. The source also accused Blockstream of showing "delusion, greed and arrogance" when dealing with security issues. The hackers further said they planned to release the private key needed to decrypt the conversation between the two parties afterwards.
At the same time, the Liquid sidechain has been suspended. Blockstream and its federal members are working to further fix security vulnerabilities, resolve chain fragmentation issues, and prepare for a coordinated restart. Users were also told not to send bitcoins to Liquid's peg-in address until the network was back online.
Event review and subsequent impact
The latest announcement came after approximately 4,000 BTC units (valued at approximately $320 million at the time) were stolen from Liquid federal wallets on September 6. The people behind the scenes initially claimed to be white-hat hackers and said the funds would be returned once Blockstream fixed the security issues and repaired all affected nodes. After Blockstream confirmed that the bridge node had been patched, 3,400 BTC were returned to the federal wallet, while approximately 598 BTC were still held by the hackers.
Mow warned hackers in another tweet that they may have underestimated the consequences of their actions. He said it was "polite" for Blockstream to choose to communicate with it through PGP and questioned whether it was really "wise" to publicly admit to stealing BTC and ask for a reward.
The former Blockstream chief strategy officer also hinted that the gang may have left more clues than they realize, and warned that trying to return the funds does not mean they can simply escape the impact of the incident. "As a white hat, the road ahead will only widen; as a black hat, you will always be in anxiety. The fantasy of leaving unscathed with assets is nothing more than a delusion. Once some doors are opened, they can no longer be closed."
