{"id":77805,"date":"2026-09-06T20:14:44","date_gmt":"2026-09-06T20:14:44","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/nearly-4000-btc-drained-from-blockstreams-liquid-peg\/"},"modified":"2026-09-06T20:14:44","modified_gmt":"2026-09-06T20:14:44","slug":"nearly-4000-btc-drained-from-blockstreams-liquid-peg","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/nearly-4000-btc-drained-from-blockstreams-liquid-peg\/","title":{"rendered":"Nearly 4,000 BTC Drained From Blockstream&#8217;s Liquid Peg"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Liquid\u2019s reserve fell from roughly 4,200 BTC to 207 BTC after nearly 4,000 BTC moved.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Blockstream faces questions as the transferred bitcoin was worth about $319 million.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Liquid users await answers after a \u201cwhitehats\u201d message appeared Sept. 6.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>Liquid\u2019s Bitcoin Peg Plunges From Roughly 4,200 BTC to 207 BTC<\/h2>\n<p><a href=\"https:\/\/x.com\/ErgoBTC\/status\/2096665561392361473\" target=\"_blank\" rel=\"noopener noreferrer\">Onchain researcher Ergo BTC flagged<\/a> two linked bitcoin transactions, including a large Liquid peg-out described as roughly 4,000 BTC leaving a pool of about 4,200 BTC. A follow-up transaction spent approximately 3,998.5 BTC and included the \u201cwhitehats\u201d message. <a href=\"https:\/\/www.blockstream.info\/liquid\/\" target=\"_blank\" rel=\"noopener noreferrer\">Blockstream\u2019s Liquid explorer<\/a> subsequently showed federation holdings of just 207.275 BTC, a significant drop from the roughly 4,200 BTC that had backed the network for months.<\/p>\n<figure id=\"attachment_845451\" aria-describedby=\"caption-attachment-845451\" style=\"width:1328px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-845451\" class=\"wp-caption-text\">Image source: X<\/figcaption><\/figure>\n<p>The move is drawing a great deal of attention because Liquid\u2019s peg-out system is not designed to let anyone simply pull bitcoin from the sidechain. Normally, LBTC is destroyed on Liquid before federation functionaries process the corresponding bitcoin withdrawal.<\/p>\n<figure id=\"attachment_845463\" aria-describedby=\"caption-attachment-845463\" style=\"width:1332px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-845463 size-full\" title=\"'We Are Whitehats': Nearly 4,000 BTC Drained From Blockstream's Liquid Peg\" src=\"https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/09\/screenshot-2026-09-06-at-3-21-44-pm.png\" alt=\"Blockstream.info screenshot. \" width=\"1332\" height=\"370\" srcset=\"https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/09\/screenshot-2026-09-06-at-3-21-44-pm-300x83.png 300w, https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/09\/screenshot-2026-09-06-at-3-21-44-pm-1024x284.png 1024w, https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/09\/screenshot-2026-09-06-at-3-21-44-pm-768x213.png 768w, https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/09\/screenshot-2026-09-06-at-3-21-44-pm.png 1332w\" sizes=\"auto, (max-width: 1332px) 100vw, 1332px\"\/><figcaption id=\"caption-attachment-845463\" class=\"wp-caption-text\">Image source: Blockstream.info.<\/figcaption><\/figure>\n<p>Mainchain funds require an 11-of-15 federation multisignature, while the Peg-out Authorization Key system is intended to restrict payments to approved member wallets. Right now, how all of this happened is quite a mystery.<\/p>\n<h2>\u2018Whitehats\u2019 Claim Leaves Liquid Facing a Big Unanswered Question<\/h2>\n<p>What happened behind the scenes is anyone\u2019s guess. There are possibilities to this particular <a href=\"https:\/\/news.bitcoin.com\/security\/coinbase-says-bug-reports-could-triple-as-ai-adds-security-noise\/\">security issue<\/a>, including a compromised whitelisted wallet, abuse involving Liquid\u2019s security mechanisms, or a coordinated white-hat extraction intended to protect funds after discovering a vulnerability. None has been confirmed. Treating the \u201cwhitehat\u201d message as proof of good intentions would be jumping ahead of the evidence as well.<\/p>\n<h2>Nearly 4,000 BTC Remains Concentrated as Liquid Users Await Answers<\/h2>\n<p>For now, <a href=\"https:\/\/markets.bitcoin.com\/crypto\/bitcoin\" target=\"_blank\" rel=\"noopener noreferrer\">the bitcoin (BTC)<\/a> is reportedly concentrated on the Bitcoin blockchain and had not obviously been mixed at the time of writing. The next significant development will be whether Blockstream or Liquid confirms an incident, explains why the reserve collapsed from roughly 4,200 BTC to 207 BTC, or responds through the onchain channel apparently opened by the unidentified party.<\/p>\n<p>Until the dust settles, the cause of the massive transfer remains unconfirmed. This story is still developing.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/security\/we-are-whitehats-nearly-4000-btc-drained-from-blockstreams-liquid-peg\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Liquid\u2019s reserve fell from roughly 4,200 BTC to 207 BTC after nearly 4,000 BTC moved. Blockstream faces questions as the transferred bitcoin was worth about $319 million. Liquid users await answers after a \u201cwhitehats\u201d message appeared Sept. 6. Liquid\u2019s Bitcoin Peg Plunges From Roughly 4,200 BTC [&hellip;]<\/p>\n","protected":false},"author":19,"featured_media":77806,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/77805"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=77805"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/77805\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/77806"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=77805"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=77805"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=77805"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}