Liquid Network Upgrades Nodes to Restore Swaps as Direct Peg-Outs Remain Frozen

Liquid Network has completed a federation node software upgrade to advance recovery following a September exploit, coordinating with external providers to restore semi-automated Bitcoin and Liquid Bitcoin (LBTC) conversions without volume caps. However, direct federation peg-outs remain frozen as the network seeks to restore a full 1:1 backing ratio. Reserves face an approximate shortfall of 603 BTC, leaving outstanding LBTC roughly 85.8% backed. Liquid Network plans to display verifiable reserve balances on a block explorer before reinstating standard peg-outs for authorized PAK key holders.