Liquid exchange hackers return $270M in bitcoin after stealing $320M

Hackers who exploited Liquid reportedly returned ~$270M in BTC after stealing ~$320M, reducing net losses and immediate sell-pressure risk versus a full exit. The partial recovery may ease near-term systemic fear, but the event still underscores persistent exchange and custody vulnerabilities, which can keep risk premia elevated across crypto venues and influence liquidity and counterparty assessments.