Liquid Network resumes block production but transactions remain paused, BTC/LBTC reserve restoration not yet complete.

BlockBeats news, September 10: Liquid Network announced in a post that as of September 10, 10:00 (UTC), the network has entered a controlled recovery phase. As a precautionary measure, the network has resumed block production but is temporarily not processing transactions, and is continuously monitoring to confirm the network is fully stable.

Blockstream stated that the required Functionary node and bridge node updates have been successfully deployed, and Functionary nodes are now signing and validating blocks as expected. Meanwhile, peg operations, including PAK-authorized peg-outs, remain suspended, and the network is in the final recovery phase, including restoring BTC/LBTC reserves. Liquid Network reminds users to be wary of scammers using this incident to publish fake update websites or messages, and never transfer funds to unfamiliar channels or disclose private keys or mnemonic phrases.