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Liquid Network says LBTC is fully backed again two months after $320 million exploit

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In FocusHacks & Security14 flashes2 stories

The Liquid Federation said on Tuesday that its bitcoin reserves again cover all LBTC one-to-one, closing a gap left by a Sept. 6 exploit that drained about 4,000 BTC. The attacker returned roughly 3,400 BTC a day later; the last 550 BTC arrived in two deposits on Monday, which a Federation board member attributed to Blockstream. The Federation says governance and security changes will follow in the coming weeks. Source: The Block

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More from the wire

Binance says 98⁠% of hacked assets replenished, widens reserve snapshot to 44 tokens

Binance said in its seventh incident update that it has refilled about 98% of the assets hit in last week's hack from its own funds, and will buy the last 2% of thinly traded tokens on the open market and over the counter. A new proof-of-reserves snapshot taken at 00:00 UTC on Nov. 4 covers 44 tokens, up from 10, with the full zero-knowledge proof expected to take 50 to 60 hours. Co-CEO Richard Teng put the amount frozen or intercepted so far at about $2.85 billion. Source: The Daily Hodl

BreakingExchanges

Binance’s SAFU fund down to about 7,500 BTC after covering hack losses

Binance's SAFU emergency fund now holds about 7,500 BTC, roughly half of the 15,000 BTC it held after converting from stablecoins in February, after four withdrawals on Oct. 31 to help cover the $6.3 billion theft. At around $77,000 per coin, the remainder is worth about $580 million. Binance says it will rebuild the fund to about $1 billion but has given no timetable. Source: Bloomingbit, citing CoinDesk

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