A Bitcoin-linked blockchain used by several crypto exchanges has been hacked for US$320 million (S$405 million), the latest in a spate of thefts to shake confidence in digital-asset security.

Liquid Network, which develops a blockchain designed for faster transactions, had roughly 4,000 of the 4,200 Bitcoin held in its Liquid Federation wallet stolen, it said in a post on X.

It said the perpetrators are “purported white-hat hackers” who move funds after finding vulnerabilities with the intention of returning them, often for a fee. 

“Liquid wallets will be impacted, and we’re sorry for any inconvenience,” Liquid Network wrote, adding it has halted all new transactions. “Federation members are actively working on resolving this…