Adam Back hit by Liquid hack, mining lawsuits and scrapped BSTR SPAC listing
- —Liquid Network exploit drained ~4,000 BTC (~$319 million); 3,400 BTC returned, 598.5 BTC (~$47 million) still held by attackers
- —BSTR Holdings scrapped its merger with Cantor Equity Partners I SPAC, triggering a $15 million break fee
- —River Financial seeks ~$6.7 million from Blockstream Services Canada over allegedly unpaid invoices
- —Blockstream was valued at $3.2 billion after a $210 million raise in 2021
Why it matters: The incident raises questions about Liquid sidechain security and the reputation of one of Bitcoin's oldest infrastructure players.
Source: Journal du Coin