Liquid update for BULL Wallet users The Liquid Network has been resumed, producing blocks and processing transactions again. However, Swaps from L-BTC to BTC and L-BTC to LN remain unavailable until the 1:1 peg is fully restored and peg-out operations are allowed again. BULL’s default receiving wallet, aka Secure Bitcoin Wallet, which uses the Bitcoin network for transactions, is unaffected by this incident. BULL’s instant payments wallets use the Liquid Network. While it is now possible for users to receive payments via Liquid, we strongly discourage them from doing so. The BULL wallet automatically prevents users from accumulating more than 1,000,000 sats in their wallet via its autoswap feature, which is enabled by default. While we wait for the Liquid Network peg to return to its full 1:1 reserve, this feature is not functional. What’s next We are confident the 1:1 peg will be restored and that no BULL Wallet user will lose funds as a result of this incident. Once full backing and peg operations are restored, you will be able to convert your L-BTC to BTC or to LN as before. If full backing cannot be restored, we will advocate on behalf of our users for a recovery plan that lets every affected user recover funds proportional to the peg ratio. BULL’s primary directive is, and always has been, to make Bitcoin a useful, private and censorship resistant means of exchange. Only then can our Mission to Destroy Fiat be realizable. BULL first integrated Lightning in its exchange in 2018. Since then, we have kept up with all new developments in the space, examined all available alternatives and tradeoffs in depth. We have presented on this topic at technical conferences, and we plan on soon releasing more insights into our approach. We thank our amazing users for their patience and support. Despite the difficult cybersecurity incidents of the past few months, we remain dedicated to building infrastructure to make Bitcoin a scalable and usable form of money.