Robber Seizes Rp 5.9 Trillion Then Returns Rp 5 Trillion

The cryptocurrency industry has experienced another major hacking incident. A hacker stole approximately 4,000 Bitcoin, worth US$340 million or around Rp 5.9 trillion, from the Liquid Network, a settlement network used by several crypto exchanges.

However, shortly after the incident, the hacker returned most of the stolen assets.

The Liquid Network, launched by the crypto company Blockstream in 2018, disclosed the incident via a post on X on Sunday.

The company referred to the perpetrator as a ‘white hat’ hacker and temporarily suspended network operations until the security issue could be resolved.

The identity of the hacker remains unknown. Several crypto media reports suggest the perpetrator likely exploited a bug or vulnerability to withdraw Bitcoin from the network’s wallets.

Interestingly, the hacker reportedly expressed a willingness to return the funds if Blockstream patched the security flaw used in the attack.

Former Blockstream executive Samson Mow stated that the company has since fixed the bug. Following the patch, approximately 3,400 of the total 4,000 stolen Bitcoins have been returned.

“The company has fixed the bug,” Mow stated in his post on X, as reported by TechCrunch on Thursday.

As a result, approximately 600 Bitcoin, valued at roughly US$47 million, remains under the hacker’s control.

Mow noted that Liquid Network operations will remain temporarily suspended. Blockstream intends to implement further fixes and enhance security systems before the network resumes operations.

This theft ranks among the largest digital asset heists recorded to date. According to the ReKT Leaderboard, which tracks cryptocurrency theft cases, the attack on the Liquid Network stands as one of the largest crypto hacks of the year.