Liquid restores 1:1 BTC backing for LBTC after September hack

The Liquid Federation announced that it has fully restored Bitcoin reserves on the Liquid Network, reestablishing 1:1 backing for its LBTC token following a high-profile incident in September when most of the network’s BTC was drained by self-described white-hat hackers. In a public statement, the Liquid Federation confirmed that all LBTC tokens issued on the network are now backed one-to-one with Bitcoin reserves. Several weeks earlier, swaps between BTC and LBTC through participating providers had resumed at a 1:1 exchange rate following internal repairs. Blockstream CEO Adam Back shared a screenshot of the network’s asset dashboard, showing that liabilities are fully covered, and the current reserve deficit stands at precisely 0.00 BTC.

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