Liquid Restores Full Bitcoin Backing After Elements Exploit
Full reserves meet a condition for restarting direct federation withdrawals, which were last reported under enhanced operational controls.
VOID Report
Liquid, a financial platform, has restored full bitcoin backing following an exploit related to its Elements sidechain. This development allows for the resumption of direct federation withdrawals under normal conditions.
According to The Defiant, the restoration of full reserves meets a key condition for restarting withdrawals without enhanced operational controls. The previous restrictions were put in place after the exploit was discovered.
The incident had prompted concerns about the platform's ability to maintain full backing for its bitcoin. The Defiant reported that the issue was related to an exploit on the Elements sidechain.
It is not clear what specific actions were taken to restore the full backing or what measures are being implemented to prevent similar incidents in the future. The Defiant did not provide additional details on the exploit or its impact on users.
At this point, it has not been reported how users and investors will be affected in the long term or what additional steps Liquid will take to ensure the security and stability of its platform.
Written with AI by Noticiero VOID from facts reported by The Defiant. How we do it ·