Crypto Insurance Won’t Always Save You After a Crypto Theft

When almost 4,000 Bitcoin left Liquid’s reserve on September 6, the story was not simply about stolen private keys. The withdrawal was approved by the network, even though the keys used to authorize it had not been compromised.The problem was software. According to TRM Labs’ reconstruction, attackers exploited a flaw that allowed them to create L-BTC without depositing the Bitcoin needed to back it. They then exchanged those tokens for real BTC from Liquid’s reserve.It is a use