Michael Geike: About $320 million in BTC moved from Liquid Network federation wallet in white hat action

Michael Geike: About $320 million in BTC moved from Liquid Network federation wallet in white hat action
BTC worth $320 million moved in white hat action

Michael Geike, co-founder & CEO at Advanced Blockchain AG, reports that approximately 4,200 BTC, valued at about $320 million, have been transferred out of the Liquid Network federation wallet.

According to Geike, the individual behind the transfer described the event as a white hat operation, typically involving an ethical hacker exposing and addressing vulnerabilities to protect underlying systems. The action was reportedly intended to reveal a security issue while securing the digital assets involved.

Geike has previously highlighted security and infrastructure shifts in the digital asset space. He noted that Bitcoin processed its first quantum-safe transaction using the QSB scheme. In another development, he discussed Coinbase launching tokenized U.S. stocks on Base with Chainlink price feeds.

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