In the Liquid Network, a group calling themselves white hats have returned roughly $270 million worth of Bitcoin. According to the project, that's 85% of the BTC that was drained from Liquid's federated wallet after a security incident. With most of the funds now back, the team is prepping for a network relaunch.

What Happened

Bitcoin was pulled from Liquid’s federated wallet during a security breach. Later on, white hats managed to return a large chunk of the funds—about $270 million in BTC, or 85% of what had been taken out of the network’s control.

What’s Next for Liquid

Liquid is getting ready to come back online. The team plans to restore infrastructure after responding to the incident, but specifics on the relaunch or next steps haven’t been shared in the update about the returned funds.

Why This Matters

Getting back 85% of the stolen Bitcoin helps limit the fallout from the incident for the Liquid ecosystem and users who rely on the sidechain for BTC transactions. The relaunch plans show the team’s working fast to get the network stable again.