TREE NEWS update: Blockstream said it will not pay a ransom to recover 598.5 BTC, worth about $47 million, stolen in a hack of its Liquid network, calling the demand “theft.” The company said it will turn to law enforcement if the funds are not returned. The bitcoin remains outstanding.
Blockstream Refuses Ransom for $47M in Bitcoin Stolen in Liquid Hack
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AI take
Blockstream's refusal to negotiate reframes the incident as a law-enforcement matter rather than a private recovery effort, which is a notable stance for an infrastructure operator whose network's credibility rests on settlement assurances. The unresolved bitcoin is the real signal: it keeps the loss live on the balance sheet of trust in Liquid, affecting the projects and traders who rely on it for faster, confidential transfers. Whether the stolen coins move or the investigation produces a recovery is the open question.
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