Banks moved money over a weekend using holdings recorded as tokens on a shared ledger. A Bitcoin side network stopped working after people claiming to be friendly hackers took $320 million in Bitcoin. And a Chilean exchange is closing its doors after a careful review found money missing from its accounts.
Citi and DBS Move Money on a Saturday
Citi and DBS completed the first weekend money transfer between Singapore and the US using holdings recorded as tokens on Saturday. The two firms used the Swift Digital Ledger to get around the limits of usual banking hours.
DBS said the transfer finished in minutes. It called that a big improvement over the usual wait for international transfers, which can take up to two business days.
The move shows banks testing new ledger systems to make international payments quicker while keeping funds inside banking channels. Standard Chartered and HSBC were the first to complete this kind of transfer on Swift’s ledger, in August.
In July, Swift said its new ledger was ready for early use. The network, the largest of its kind for handling money messages between banks, said it was preparing to test transfers built on tokens with 17 major banks. That list includes Citi, DBS, HSBC, BNP Paribas, UBS, ANZ and Standard Chartered.
Liquid Stops After $320M Leaves the Network
Bitcoin side network Liquid stopped operating on Sunday after people claiming to be friendly hackers took roughly $320 million in Bitcoin. Liquid said points on its network were shut down, stopping new transactions, while exchanges stopped or prepared to stop L-BTC transfers in and out.
Blockstream, the company behind Liquid’s technology, reached the people who took the funds through signed messages sent on the network. Those messages show the group telling Blockstream to fix the weakness and make sure every network point was updated before they would send back most of the Bitcoin.
They also sent detailed technical notes to Blockstream, according to Galaxy Digital’s Alex Thorn. As of this report, the funds had not been sent back.
SideSwap said the withdrawal went through its peg-out service as a usual customer order, using its Peg-out Authorization Key, or PAK. It said the key itself was not touched by outside actors. Instead, SideSwap said the L-BTC involved came from a weakness in Elements, the freely available software that runs Liquid, not from any problem in its own systems.
This report reached out to Liquid Network and Blockstream and asked for comment.
The Bitcoin taken made up about 95% of the wallet’s roughly 4,200 BTC balance before the event. Liquid said other holdings on the network, including USDT and DePix, along with other kinds of holdings, were not affected by the event. The network stayed shut down while its group of operators worked on a fix.
Here is a quick rundown of the Liquid event:
- Network points shut down, stopping new transactions.
- Exchanges stop or prepare to stop L-BTC transfers in and out.
- Blockstream contacts the actors through signed messages on the network.
- Actors demand a fix and a full network update before returning funds.
- Detailed technical notes sent to Blockstream, according to Alex Thorn.
- Funds remain not returned as of this report.
Orionx Closes Over Missing $7M
Tether-backed Chilean exchange Orionx is closing for good after a careful review found more than $7 million in customer money had moved to wallets outside the company’s care. Orionx has stopped withdrawals while it works to return as much of that money as it can.
The exchange filed a criminal complaint against former executives and founders Roberto Zibert and Joaquín Díaz. Both have said they did nothing wrong and deny any fault in the matter.
Local reports say the transfers in question happened between 2018 and 2021. Tether put money into Orionx as the lead backer in its Series A round of raising money in June 2025, part of its push into Latin America.
Here is a quick look at the key dates in the Orionx story:
| Event | Date |
|---|---|
| Transfers in question took place | 2018–2021 |
| Tether led round of raising money | June 2025 |
| Review finds money missing | Recent, per report |
| Withdrawals stopped, closing announced | Recent, per report |
Three separate stories, one theme: money is moving quicker and across more systems than ever, and that pace cuts both ways. Banks are finding new ways to move funds on weekends. A Bitcoin side network is waiting on the willingness of people who took its funds. And a Latin American exchange is closing after a review turned up transfers now under dispute, with the accused denying any fault.
Source: cointelegraph.com
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