Liquid’s bitcoin IOUs are fully backed again after a $320 million exploit

The Liquid Network, a prominent Bitcoin sidechain, has successfully resolved the aftermath of a significant $320 million exploit that occurred in September. The incident had caused the network's L-BTC tokens, which represent bitcoin IOUs, to become unbacked. A final transfer of 250 BTC has now been completed, effectively closing the deficit and ensuring that all L-BTC are once again fully backed on a 1:1 basis with actual Bitcoin. However, the federation overseeing the Liquid Network has not yet revealed the identity of the party or parties who provided the necessary funds to cover the substantial hole created by the security breach.