Liquid’s incident report says a cache flaw allowed about 4,000 L-BTC without matching BTC backing. The federation’s batched Bitcoin transaction then paid 3,998.67 BTC across two peg-outs. Public explorers split at the disputed block on 6 September 2026.
The page links each claim to the public transactions, Blockstream’s statements or the relevant Elements code. A four-step walkthrough shows how different records can become the same cache input when field boundaries are missing. The real payout is shown separately.
The transactions and source code are public. The exact software builds and cached data on the servers that signed the disputed chain are not. The identity and intent of the actors are also unconfirmed.
Block production and transactions resumed on 10 September. Peg-outs remain disabled, with no reopening date. Liquid says the reserve must first be fully backed and the required software updates, testing and independent security reviews completed. SideSwap reopened peg-ins on 11 September while reporting 4,229 L-BTC in circulation against 3,627 BTC in the federation reserve.
A confirmed transaction returned 3,400 BTC. About 598.50 BTC remained at the reported address when the page was checked on 20 September at 23:41 CEST. The two public explorers agreed on the accepted chain, and an independent monitor still reported all 608 expected legitimate transactions from the abandoned fork on that chain. None of the eight tainted transactions had appeared there. Elements 23.3.4 remains the latest signed release and hardens the proof-cache keys.
This project is not affiliated with Blockstream, Liquid or SideSwap.
npm install
npm run devNode.js 24 or newer is required.
npm run checkThe production build is a static export in out/ and is configured for the /liquid-implosion/ GitHub Pages path.
- Liquid statement
- Liquid incident report
- Liquid transaction-resumption update
- Liquid ecosystem and peg-out update
- Blockstream incident status
- Blockstream restart update
- Blockstream recovery position
- BULL service update
- SideSwap incident statement
- SideSwap peg-in update
- Primer transaction A
- Primer transaction B
- Disputed Liquid transaction
- Bitcoin federation payout
- 3,400 BTC return transaction
- 2018 cache-key simplification
- 2026 cache-key change
- Elements pull request #1592
- Elements pull request #1600
- Elements 23.3.4 release
- Liquid peg-out documentation
- Independent forensic report
- Independent transaction replay monitor
- Steven Roose code walkthrough
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