DAY 35 AND LIQUID STILL HOLDS 3,632.23 BTC AGAINST 4,234.76 L-BTC — THE SAME 602.53 BTC GAP AS DAY ELEVEN — PEG-OUTS WAIT ON 1:1 BACKING THAT NOBODY HAS PUT BACK

Liquid’s peg-outs have been shut since September 6, 2026, when an attacker used a bug in the Elements software to peg out about 4,000 bitcoin that nobody had put in. On October 11, day 35, the federation’s own reserve audit at bitcoin block 970,970 shows 3,632.23 BTC held against 4,234.76 L-BTC in circulation. That is 85.77% backing and a gap of 602.53 BTC. Bitcoin.com put it at 86% the same day.

Those are the numbers Bitcoin.com read off the same page on September 17. The reserve now sits within 0.0001 BTC of its September reading, and the L-BTC count has not moved in October. In 24 days, no one has put a single bitcoin back into the hole.

Liquid set its own bar in a September 17 update: “peg-outs will resume only after full 1:1 BTC backing for LBTC has been confirmed.” The attacker’s address still holds 598.49 BTC, unmoved. Blockstream has refused the 10% bounty the attacker demands. A September 29 Liquid update said an outside audit of Elements v23.3.4 is underway and peg-out keys are going into cold storage. It gave no date.

So the gap closes one of two ways: the attacker sends coins back, or someone else puts in about 602 BTC. You do not have to trust anyone to watch for either. Two public pages show it, the federation reserve and the attacker’s address, and on day 35 neither has moved. At the time of this writing, bitcoin was $83,616.