A Software Bug Let a White Hat Mint 4000 Fake Bitcoin and Walk Out With the Real Ones
A white hat hacker minted 4000 fake LBTC that nearly drained Liquid's entire Bitcoin reserve Users deposit Bitcoin into a federation controlled wallet, and they receive LBTC to use on Liquid. So effectively, you have LBTC that's backed by BTC one for one, and then you can go use LBTC to earn yield...
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