Tag: crypto
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$320 Million Liquid Network Hack: What Happened to Nearly 4,000 Bitcoin?
Nearly 4,000 bitcoin worth about $320 million were withdrawn from the Liquid Network federation wallet. Here’s what happened, why Liquid halted transactions, and why this is not the same as hacking Bitcoin itself.
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At its core, cryptocurrency is money enforced by math and distributed agreement, not by a bank, company, or government. What happens “behind the currency” is a mix of cryptography, networking, and economic incentives. Below is the clean mental model. 1. The Ledger: A Blockchain (Shared History) Instead of a bank keeping one master spreadsheet, thousands…