Liquid’s bitcoin IOUs are fully backed again after a $320 million exploit

Liquid, a Bitcoin sidechain network, has fully re-backed its bitcoin IOUs after a $320 million exploit tied to a September bug. A final 250 BTC transfer closed the shortfall, but the federation behind the network has not disclosed who funded the backfill. Traders care because it restores confidence in Liquid's peg, though the unanswered question of who absorbed the loss leaves counterparty and governance risk unresolved.