See the full story in the original article.
Original headline: Liquid’s bitcoin IOUs are fully backed again after a $320 million exploit
Read the original on CoinDesk ↗
Keywords
Open a keyword to see other news on the same topic.
Related tickers and likely impact
BTC/USDT
• NeutralBitcoin
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 11/02/2026 | 76,816.00 |
| Change that session | -1.96% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Google Recently Warned That Quantum Computers Could Crack Bitcoin. Now It's Selling Protection.
On Oct. 28, Google Cloud previewed a new crypto custody system aimed at banks offering crypto products to clients. Its Multi-Party Compute (MPC) service splits each private key into fragments stored on separate systems; hacked or illegally obtained private keys accounted for 43.8% of crypto stolen in 2024, per Chainalysis, and commercial launch is planned for early 2027. Google Cloud revenue rose 103% year over year to $30.7 billion in the third quarter, but the author sees little reason MPC will meaningfully benefit Alphabet, given unknown pricing and many competitors. The article also notes MPC does not stop attacks that work backward from public keys, which expose more than 6 million bitcoins, almost 29% of the supply, held in wallets with exposed public keys.
- Liquid Network Restores Full Bitcoin Backing Two Months After $320M Exploit
The Liquid Federation said the sidechain's Bitcoin reserves are fully restored, with 1:1 backing reestablished for all LBTC, the token representing Bitcoin on Liquid. The milestone follows the restoration of BTC-LBTC swaps several weeks earlier. In September, purported white-hat hackers withdrew about 4,000 BTC, worth around $320 million, from the federation wallet, later returning 3,400 BTC but keeping roughly 598 BTC. Blockstream CEO Adam Back shared a dashboard showing 100% backing and a reserve deficit of 0.00 BTC, though the federation did not explain how the shortfall was covered. Blockstream refused to pay a ransom for the remaining bitcoin and called the withdrawal theft, while Back urged developers to treat AI-suggested fixes with suspicion.
- Where did Binance get funds to cover losses after the hack?
Binance used three sources, its SAFU protection fund, part of its futures insurance fund, and corporate treasury funds, to cover losses from a hack that stole about $6.3 billion in assets. According to CoinDesk, it used roughly half of the Bitcoin in SAFU, worth $580 million, leaving just over 7,500 BTC, down from 15,000 BTC in February. Data from Swolecharts showed the futures insurance fund held about $1.85 billion on November 1, and Binance said the amount used exceeded its minimum reserve threshold. By November 1, the exchange said about 95% of affected assets had been restored and withdrawals were gradually reopening. However, SAFU's Bitcoin holdings stood at about $580 million as of November 3, well below the $1 billion target, and Binance has not disclosed a timeline for topping it up.
- Mercado Bitcoin pledges to cover all user losses after near $40 million hack
- AI poses greater threat to Bitcoin than quantum computing, Swan founder says
Swan Bitcoin founder Cory Klippsten argues that AI, specifically large language models that hackers use to probe security weaknesses, is a more immediate threat to Bitcoin than quantum computing. He estimates that quantum computers capable of breaking Bitcoin's cryptography are at least a decade away, and says the network could add quantum-resistant protections if the threat becomes credible, though rushing them now would add unnecessary complexity. He also suggests some crypto startups and investors have used quantum fears to attract funding. The comments come as Brazil's Mercado Bitcoin suspended deposits and withdrawals on Monday after a security incident, with researchers estimating more than $46 million left its wallets, and days after Binance lost $6.3 billion in an Oct. 29 hack that the FBI attributed to North Korean hackers.
- North Korea's Bitcoin heist is worth 3x its exports and more than Tesla holds
The Bitcoin stolen from Binance is now worth more than Tesla's entire treasury holdings. The amount also dwarfs North Korea's annual trade.
Related markets
Latest news
- Lode Gold Identifies Exploration Potential for Additional Higher-Grade Gold Within Previously Drilled Areas at Fremont Gold Mine
Lode Gold says it has identified structural controls on gold grade distribution at the Pine Tree-Josephine Mine within its Fremont Gold Mine in Mariposa County, USA, based on digitized 1941 channel samples and historical drilling. The Pine Tree vein has at least two higher-grade shoots, each about 50-60 metres long with grades of roughly 4-6 g/t Au, located before transverse normal faults, while on the Josephine vein higher-grade zones occur after the faults. The Josephine vein was barely explored in this area, though a later drill hole intersected 43.02 g/t Au over 0.61 metres. Because the historical grid drilling of about 30 by 30 metres did not target these structural positions, future drilling can be designed around them. Chair Hashim Ahmed said the shift to bulk underground mining supports lower costs, and the cut-off grade has been lowered to 0.82 g/t Au due to higher gold prices.
- Research Solutions Brings Scite & Article Galaxy To Microsoft Copilot
Research Solutions (NASDAQ: RSSS) announced integrations of its Scite and Article Galaxy products with Microsoft Copilot, letting users search and evaluate scientific literature and check access rights and pricing without leaving Microsoft 365. Scite grounds answers in peer-reviewed evidence through Smart Citations that classify citations as supporting, contrasting, or mentioning, and surfaces retractions and regulatory safety content. Article Galaxy checks whether an organization already holds a paper, the cost to obtain it, and permitted uses, including generative-AI rights at the individual-article level. Both integrations run within Copilot's security and compliance framework and are available now in the Microsoft Marketplace.
- 3 signs cash-strapped consumers are nearing a ‘spend-pocalypse’ that would hurt the economy
Consumers account for nearly 70% of U.S. GDP. The article asks what happens to the economy when they stop spending.
- Shopify's stock slides after earnings. This is what's worrying Wall Street.
Shopify missed revenue expectations. The article describes this as a tough outcome in today's less forgiving tech market.
- Plain gold ring and gold bar prices in the evening of 3/11 at SJC, PNJ, DOJI, Bảo Tín Minh Châu and Bảo Tín Mạnh Hải
Domestic gold prices closed higher on 3 November: SJC gold bars rose 600,000 VND per tael to 137.6-140.6 million VND per tael, while gold rings rose 500,000-900,000 VND per tael depending on the brand. SJC gold rings were quoted at 133.7-137.7 million VND per tael, PNJ at 134.9-138.9 million, and DOJI at 135.5-139.5 million. World spot gold was at 3,925 USD per ounce early in the evening session, down 0.55%, after rising 1.84% in the first session of the week. Earlier in the day, SJC gold bars had reached 138.2-141.2 million VND per tael at 10am before falling 600,000 VND per tael by 2pm.
- Nancy Pelosi's Family Bought Intel in July, Right Before Its Worst Day Since 1974
Paul Pelosi, Nancy Pelosi's husband, bought Intel shares valued at $500,001 to $1,000,000 and Intel options valued at $250,001 to $500,000 on July 24, 2026, a combined position of up to $1.5 million. Intel then plunged roughly 30% in one session on October 30 after warning the PC slump could last into next year, its worst single-day drop since 1974. Although third-quarter revenue rose 20.9% to $16.51 billion and adjusted EPS beat estimates, Client Computing revenue fell 5%, and fourth-quarter guidance called for $15.0 billion to $16.0 billion in revenue and $0.25 adjusted EPS. The NANC fund, which mirrors trades by Democratic lawmakers, held just 9,814 Intel shares, or 0.49% of its net assets, as of June 30.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.