Liquid Bridge Peg-Out: Ledger CTO Flags ~4,000 BTC as Whitehat Claim Draws Doubt
Ledger CTO Charles Guillemet said about 4,000 BTC were pegged out of the Liquid bridge with an OP_RETURN whitehat message. Liquid said funds moved via SideSwap’s Peg-out Authorization Key, the key was not compromised, and LBTC deposits and withdrawals are paused. Other Liquid assets are unaffected.
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Sep 8, 2026 · 2mo ago
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Ledger CTO Charles Guillemet said about 4,000 BTC were pegged out of the Liquid bridge, with an OP_RETURN message reading “we are whitehats. contact us on chain.” That is Wu Blockchain.
Guillemet disputed the whitehat framing, arguing white hats do not drain a bridge and then solicit contact on-chain. Wu stamps his comparison to the Ronin validator-key theft (~$625 million) and to the Euler attacker’s later “let’s talk” return negotiation.
Blockstream has responded on-chain, asking the party to contact its security team.
What Liquid stamped
Liquid Network confirmed a security incident. Funds were withdrawn via SideSwap’s Peg-out Authorization Key (PAK). The key itself and other keys were not compromised, Wu writes.
Exchanges have been notified and have paused or will pause LBTC deposits and withdrawals. Other Liquid assets — including USDT, DePix, and RWAs — are unaffected. Liquid temporarily disabled bridge nodes, effectively pausing the sidechain while federation members work to restore normal activity.
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