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598.50 BTC of Liquid's missing backing is sitting in one unspent output on the attacker's address. It hasn't moved since Bitcoin block 966,199 on 9 September, the transaction whose OP_RETURN told the federation it "SHALL pay 10%" as a bug bounty or holders would take a 15% loss. Liquid's peg audit puts the hole at 602.53 BTC today: 4,234.76 L-BTC out against 3,632.23 BTC across the federation's 16 addresses. That's 85.8% backed. Today's update says Federation peg-outs come back after "reestablishing the network's full 1:1 bitcoin backing" and doesn't say whose bitcoin that is. Has anyone close to the federation said whether members are covering it, or whether those 598.50 are still on the table?

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