Ledger’s CTO Charles Guillemet has reported that 4,000 BTC were pegged out of the Liquid bridge, casting serious doubt on the legitimacy of the event and reigniting concerns over bridge security in crypto. The development was highlighted by crypto commentator @WuBlockchain and drew comparisons to previous high-profile exploits.
According to Guillemet, an OP_RETURN message left by the involved party stated ‘we are whitehats’. However, the Ledger executive argued that genuine whitehat hackers typically do not drain a bridge for funds while simultaneously requesting contact. He noted the method is reminiscent of the Ronin hack, in which attackers compromised validator keys and caused major losses.
Blockstream, the company behind the Liquid Network, has responded by urging the involved party to contact its security team. The Liquid bridge is a core component of the Liquid Network, a Bitcoin sidechain designed to enable faster transactions and confidential transfers. The situation raises broader questions about trust in decentralized finance and Bitcoin sidechain infrastructure.
Traders and market participants are being urged to stay vigilant as Ledger and Blockstream provide further updates, with potential implications for user confidence in DeFi security and risk management.
