Adam Back

Money Moves

As of September 2026: Leading the company's response

Liquid, a Bitcoin sidechain run by Blockstream, lost nearly all its bitcoin reserves on September 6. A single peg-out transaction moved about 4,000 BTC, worth roughly $320 million, to the Bitcoin mainchain, leaving about 200 of the wallet's prior 4,200 BTC. The withdrawal exploited a validation bug in Elements, the open-source software that powers Liquid.

Updated Sep 8