Ledger CTO Challenges ‘Whitehat’ Claim After Liquid’s 4,000 BTC Peg-Out

TLDR: Ledger CTO challenges the whitehat claim after Liquid’s 3,996 BTC peg-out was valued at $318.4 million. Liquid says the peg-out used SideSwap’s PAK, while the key itself and other authorization keys stayed secure. The 3,996 BTC transfer represented roughly 95% of Liquid’s Bitcoin reserves, intensifying control scrutiny. Liquid paused bridge activity as most withdrawn [...]

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