From TokenPost · · 40s
Liquid Network Recovers BTC-LBTC Swaps
Liquid Network resumes BTC-LBTC swaps after September exploit.
In brief
Liquid Network resumes BTC-LBTC swaps after September exploit. Liquid Network completes software upgrade to restore BTC-LBTC swaps following September exploit. Originally reported by TokenPost.
Software Upgrade Complete
Liquid Network has completed a software upgrade for federation nodes managing Bitcoin reserves and is coordinating with swap providers to resume BTC and LBTC conversions.
Phased Swap Recovery
The service will be semi-automated with no protocol-level volume cap, allowing most users to exchange LBTC back into Bitcoin through participating providers.
Reserve Rebuild Phase
Direct peg-outs remain restricted while Liquid rebuilds Bitcoin reserves to a 1:1 ratio before resuming normal peg-outs for authorized PAK key holders.
What to remember
Liquid Network completes software upgrade to restore BTC-LBTC swaps following September exploit.
