Blockstream refuses to pay ransom for remaining $47 million after Liquid hack

Blockstream has declined to meet a ransom demand for approximately 598.5 BTC remaining from a Liquid sidechain exploit that initially resulted in $320 million in stolen cryptocurrency. The attackers have already returned 3,400 BTC but are withholding the remainder, presumably as leverage for payment. Rather than negotiate further, Blockstream stated it will engage with law enforcement and forensic specialists to track the funds, escalating the matter beyond direct ransom talks.

The company's refusal signals a shift from the initial breach toward formal investigation channels, though the substantial sum at stake underscores the real financial pressure involved.

• Blockstream rejected ransom terms for the withheld portion while partial recovery of 3,400 BTC suggests some level of prior negotiation or settlement.
• Law enforcement involvement represents a departure from direct ransom resolution and introduces regulatory and investigative processes into the recovery effort.
• The $320 million scale of the original exploit and the ongoing $47 million portion illustrate both the magnitude of the breach and the stakes in how Blockstream handles the situation.