Nabil Luqman

0f9d2dd4f71434084e2b6094de1865e23abb37bb9f28ca51feeabee679ec9be2

Money

payment

refugees

ewallet

savings

financing

TNG Digital

financial inclusion

UNHCR

In a significant step towards financial inclusion, TNG Digital has announced that refugees and asylum seekers in Malaysia can now access its Touch 'n Go eWallet. This milestone is the result of a collaboration between TNG Digital and the United Nations High Commissioner for Refugees (UNHCR), following a Memorandum of Understanding (MoU) signed last year. This initiative aims to empower refugees by providing them with essential digital financial services, fostering economic participation, and enhancing their financial security.
Unlocking Financial Opportunities for Refugees
With this initiative, refugees registered with UNHCR in Malaysia can now perform a wide range of financial transactions through the TnG eWallet app. These include:
<ul>
<li>Payments for goods and services</li>
<li>E-wallet balance top-ups</li>
<li>Receiving and transferring funds</li>
<li>Access to the Touch &lsquo;n Go eWallet Visa Card for online and in-store payments</li>
<li>ATM withdrawals for greater financial flexibility</li>
</ul>
Additionally, refugees using the app will enjoy the same Money-Back Guarantee policy as Malaysian users and can earn GOrewards points on their purchases. The initiative also sees collaboration from Visa and PayNet, reinforcing its reach and security.
Addressing the Challenges of Financial Exclusion
<img src="https://r2.myc.my/fc56ddedf52f620e482f0dba4f39e656b4d91d0c9a445927c9e0cac1ce66b966" />
For years, refugees in Malaysia have struggled to access formal financial services due to stringent banking requirements. Many are unable to open bank accounts because they lack supplementary documentation such as tenancy agreements or proof of employment&mdash;barriers that have left them financially excluded.
Recognising this challenge, TNG Digital CEO Alan Ni emphasised the importance of financial technology in promoting inclusion. &ldquo;Malaysia is expected to become a cashless society by 2030. If refugees are not part of this transition, they will be socially and financially crippled,&rdquo; he stated during the initiative&rsquo;s launch event. By integrating refugees into the digital financial ecosystem, this initiative ensures they are not left behind in the country's economic transformation.
Supporting Economic Growth Through Financial Inclusion
UNHCR Malaysia Representative Louise Aubin highlighted the broader impact of this initiative, stating: &ldquo;When refugees are empowered, all of society benefits. Providing them with financial access through technology does not just help them survive but allows them to thrive. This benefits the entire community.&rdquo;
Refugee activist and Fugee School co-founder Deborah Henry echoed this sentiment, stressing that financial inclusion is a crucial building block for social inclusion, especially in today&rsquo;s digital-driven society.
Over RM1 Billion Disbursed in Payroll Accounts
<img src="https://r2.myc.my/d5d15456a0bb2e1939de850749c9955c0194e0a6cb1b90b0ca8bbc2086c8b5d0" />
Beyond providing basic financial access, TNG Digital has also taken steps to integrate refugees into the formal payroll system. Since the issue of financial access for refugees arose, the company has disbursed over RM1 billion into payroll accounts, ensuring secure and regulated salary payments for individuals who would otherwise struggle to manage their income.
This move stems from the MoU signed on World Refugee Day 2024 and aims to provide long-term financial security for refugees working in Malaysia. Payroll deposits into registered eWallet accounts enable secure income management, cashless transactions, and financial independence.
A Secure and Regulated Financial Ecosystem
To ensure the security of this initiative, TNG Digital has worked closely with regulators, including Bank Negara Malaysia, refining the eKYC (electronic Know-Your-Customer) verification process. This allows identity validation using UNHCR records, ensuring refugees can securely access and manage their funds.
Ni also noted that many refugees operate in the informal economy, making them vulnerable to unstable income streams and financial insecurity. &ldquo;By integrating them into a regulated payroll system, this initiative enhances their financial stability and economic independence,&rdquo; he explained.
Future Plans: Microfinancing, Savings, and Insurance
<img src="https://r2.myc.my/5dccbaa76addf936c6e0836e314fe97846fda28568172818524c1b96f5100792" />
Looking ahead, TNG Digital is exploring additional financial solutions tailored for refugees. These include:
<ul>
<li>Microfinancing options to support small businesses</li>
<li>Savings programmes to help build financial security</li>
<li>Access to insurance for better financial protection</li>
</ul>
Ni stressed that as Malaysia evolves into a regional fintech hub, financial inclusivity remains a top priority. &ldquo;This initiative is a major step towards ensuring that no one is left behind in the country&rsquo;s digital economy,&rdquo; he added.
A Step Towards Greater Empowerment
UNHCR&rsquo;s Louise Aubin reiterated the importance of partnerships between the private sector, public sector, and civil society in empowering displaced communities. &ldquo;This collaboration enables refugees to securely receive wages, manage savings, and participate in the local economy&mdash;basic financial rights that many of us take for granted.&rdquo;
With TNG Digital&rsquo;s ongoing commitment, this initiative marks a pivotal shift towards inclusive financial access, ensuring that refugees in Malaysia can build more stable, self-sufficient futures. As digital finance continues to reshape the economic landscape, this partnership sets a powerful example of how technology can be leveraged to uplift and empower marginalised communities.
What are your thoughts on this? Let us know in the comments. 
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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Enhancing financial access for over 192,000 UNHCR-registered refugees.

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Touch 'n Go eWallet Expands Financial Inclusion For Refugees In Malaysia

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Cornetto

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AXE MLBB

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BIllie Eilish UMMY

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Coke Fifa

When financial difficulties pushed his company into a deficit, entrepreneur Ade Azhar Ismail found himself with just RM33 left in his savings account.
Rather than give up, he returned to his roots by selling nasi lemak from the boot of his car in Seksyen 9, Shah Alam.
Ade, who has spent almost 16 years as an entrepreneur and previously earned a five-figure income as the CEO of his own distribution company, admitted that returning to roadside selling was not an easy decision.
However, what started as a way to generate an income during a difficult period eventually grew into a new business venture, earning RM9,000 in profit in its first month.
From A 60-Person Team To Just 14 Employees
<img src="https://r2.myc.my/cf92a83a942ce74a504298cf652ac29d98be7cd1b0834263d46c441f42918413" />
According to Harian Metro, Ade has never worked a salaried job, having started his business journey through direct selling by selling toys.
In 2009, he became the CEO of his own company, which distributed products including air fresheners, storybooks, children's books, educational reading materials and books on the life of the Prophet.
At its peak, the company had around 60 employees. However, its sales team gradually shrank, with Ade saying only 14 employees remain. Many of those who left were Gen Z workers who were no longer interested in direct selling.
The loss of his sales team, along with several business partners leaving, affected the company's operations and contributed to it running at a deficit from the middle of last year.
Despite the difficulties, the company remains operational. Ade decided not to draw a CEO's salary and instead started selling nasi lemak, using the proceeds as his income while putting the remainder towards the company.
He Initially Felt Embarrassed Selling By The Roadside
&nbsp;<img src="https://r2.myc.my/b7ec3f45c98ecc6c42285cd1b169c7d6e8549bc666154f85287c920a1fe20e0e" />
Returning to street trading was not easy for someone who had spent years running a company.
Ade admitted that he initially felt embarrassed about facing his siblings, relatives and employees while selling nasi lemak from his car boot.
However, he eventually put those feelings aside after remembering that his own business journey had started with direct selling. Friends and fellow business owners also supported him by visiting his selling spot and buying nasi lemak.
Ade said his family was initially unaware of the difficulties he was experiencing. His wife only found out about his new venture on the 15th day.
Since he sourced the nasi lemak from a distant relative rather than preparing it himself, she did not realise that he had started selling food by the roadside.
Started With Just 30 Packets
<img src="https://r2.myc.my/68932fc7fbd98fde9bd69359473fda02724b295f6ccf631d152f2de14866efb4" />
Ade's first day began with just 30 packets of nasi lemak.
He recalled feeling discouraged and even like a &ldquo;loser&rdquo; before starting, but his confidence grew once customers began buying. By the end of the day, all 30 packets had been sold.
Encouraged by the response, he continued with the business. A video of him selling nasi lemak later went viral on social media, bringing more attention to his venture.
Ade said his first month's profit reached RM9,000. By his 53rd day of selling, he had started recruiting workers and expanded the car-boot business to five additional locations.
Now Selling Up To 1,200 Packets A Day
&nbsp;<img src="https://r2.myc.my/c5e76c6739f906f07afa74a89acbceb97bb75ff486044155d6b618a30926b2ca" />
By the 81st day, Ade and his team were selling as many as 1,200 packets of nasi lemak a day.
The business operates in two shifts, with the first beginning at 8.30am and the second starting at 5pm and continuing until the nasi lemak is sold out.
Roadside trading comes with challenges, from unpredictable weather to keeping up with growing demand. Despite this, Ade said they had sold out every day from the first day through to his 81st day.
Although the work is tiring, he said he enjoys meeting customers, including those who travel from far away to support his business.
&ldquo;Let Go Of Embarrassment And Ego&rdquo;
Ade sees the experience as an opportunity to reflect on his past mistakes and make improvements.
For others facing financial or business difficulties, he advised them not to let embarrassment or pride stop them from finding a way forward.
&ldquo;Let go of embarrassment and ego. Find a way out of your problems,&rdquo; he said.
Ade also encouraged people to make use of whatever experience and resources they already have instead of being afraid to start again.
&ldquo;Don't be afraid to start and, God willing, we can rise again and rebuild what we once worked for, even if we have to start from the bottom,&rdquo; he said.
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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Rock bottom isn’t the end — sometimes it’s just the start of a better recipe.

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From RM33 In Savings To RM9,000 Profit: Former CEO Turns To Nasi Lemak To Rebuild His Business

A Malaysian tau fu fah seller has donated RM10,000 to former prime minister Datuk Seri Najib Razak&rsquo;s solidarity fund, describing the contribution as a personal way of repaying a favour he says he received more than a decade ago.
Sunnycoco, whose real name is Seow Chau Pen, said he decided to make the donation after seeing Najib seek to serve the remainder of his prison sentence under house arrest. He said the situation reminded him of his own experience of being allowed to return home early from restricted residence in 2012.
Sunnycoco Says Najib Helped Him Return Home In 2012
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In a Facebook statement, Seow recalled that he was placed under restricted residence in Manjung, Perak, in 2009 following what he described as a mistake he had made.
He said the period became one of the lowest points in his life and gave him time to reflect on his future. During that period, he hoped that he would eventually be given an opportunity to return home and care for his two elderly parents.
According to Seow, that opportunity came in 2012 when Najib, who was prime minister at the time, visited Manjung for an event.
With the help of a local penghulu, Seow said he submitted an appeal asking for his restricted residence to be ended early so that he could return home to look after his parents. He later received notification from the Ministry of Home Affairs that his restricted residence had been ended ahead of schedule.
&ldquo;For others, it may have been just a letter or a little assistance, but for me at the time, it was an opportunity to start a new life,&rdquo; he said in his statement.
The account of Najib's involvement is based on Seow's own recollection and has not been independently verified in the sources available.
He Started His Tau Fu Fah Business After Returning Home
<img src="https://r2.myc.my/5c524e523e342b80aebfccf37e3945fff309f900514c0a1cafdf1e067ae2c130" />
After returning home, Seow said he began selling tau fu fah and gradually built up his small business.
He said he never forgot the opportunity to reunite with his family and start over after what he described as one of the most difficult periods of his life. For Seow, the experience shaped his view of what a second chance meant. Years later, seeing Najib seek to return home to serve the remainder of his sentence prompted him to think back to his own experience.
&ldquo;When I needed help in the past, he helped me. Today, within my means, I also want to do something to repay that kindness,&rdquo; Seow said.
RM10,000 Represents 10,000 Bowls Of Tau Fu Fah
&nbsp;<img src="https://r2.myc.my/25f3f419403aa9929cac9ad64345d4b8c413677d52504d7077c803a5c4f68662" />
Seow acknowledged that RM10,000 was a significant amount for him, saying he was not a wealthy person and did not have a large amount of money to spare.
He explained that his business makes around RM1 in profit from each bowl of tau fu fah sold. That means his RM10,000 contribution is equivalent to the profit from approximately 10,000 bowls.
&ldquo;So, I will sell 10,000 bowls. Bowl by bowl, I will sell them and save the money little by little,&rdquo; he said.
The calculation has since become one of the most notable parts of his story, with Seow framing the contribution as something built up gradually through his business rather than as a large sum he could easily afford.
Seow Says The Donation Is Not About Politics
<img src="https://r2.myc.my/46007bc1dd6c784a47ccbfeff47a4216fe32215e6f7a3f5055f3f32881e6a3a3" />
Seow also stressed that his decision to donate was personal and should not be interpreted as a political statement.
He said he was not asking others to follow his decision, describing the RM10,000 as a personal debt of gratitude that he wanted to repay in his own way.
&ldquo;This is not because of politics, nor am I encouraging others to do the same,&rdquo; he said. &ldquo;This is simply a debt of gratitude that I want to repay in my own way.&rdquo;
His comments come as donations have been made towards a solidarity fund linked to Najib, following the former prime minister's conditional pardon and the RM50 million fine attached to the conditions of his house arrest arrangement.
The donation has also attracted discussion online, with reactions varying among social media users. Some questioned the decision to contribute, while others viewed Seow's account as a personal story about repaying someone who he believes gave him a second chance.
A Personal Story Behind The RM10,000 Donation
For Seow, however, the focus remains on the personal experience that shaped his decision.
More than a decade after he says he was given the opportunity to return home and rebuild his life, he now wants to return the favour through the means available to him.
What makes the contribution particularly significant to him is not simply the RM10,000 figure, but what it represents: 10,000 bowls of tau fu fah, earned one bowl and one ringgit at a time.
Seow said he had remembered the help he received during a difficult chapter of his life and wanted to show his gratitude after seeing Najib face a situation that reminded him of his own past.
UMNO&rsquo;s Najib Solidarity Fund Surpasses RM1 Million
Meanwhile, UMNO&rsquo;s Najib Razak Solidarity Fund has collected more than RM1 million, according to reports on 20 September. The fund was launched after Najib was granted a conditional pardon, with the RM50 million fine forming part of the conditions for him to serve the remainder of his sentence under house arrest.
The fund initially raised RM634,562 within its first three hours before surpassing the RM1 million mark less than a day after its launch.
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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He says Najib gave him a second chance. Now, he’s giving back RM10,000 to repay that favour.

e144da3260940171393e80a2ac468bf13d1c8db60f5723833ff9cd63bfdfb0d4

Tau Fu Fah Seller Donates RM10,000 To Najib, Says It’s A Debt Of Gratitude

More families in Selangor may now qualify for the Baucar Kita Selangor (BKS) after the state government raised the household income eligibility threshold from RM5,000 to RM8,000 per month.
The latest expansion means households earning between RM5,001 and RM8,000 can now be considered for the financial assistance programme, widening access to support for families dealing with rising living costs and economic uncertainty.
Eligible recipients will receive RM100 per month for six months, giving a total value of RM600. The vouchers can be used for essential household needs, including food, healthcare and education.
Kita Selangor Voucher Eligibility Raised From RM5,000 To RM8,000
&nbsp;<img src="https://r2.myc.my/a629434523d313f67e558c3d577d5a371109f75703104ac2d3c2008042a406fe" />
The Selangor government announced the revised eligibility threshold on 21 September 2026.
State Executive Councillor for Women&rsquo;s Development and Social Welfare Anfaal Saari said the household income limit had been increased from RM5,000 to RM8,000 and below to allow more families to benefit from the programme.
The BKS was introduced as part of the Selangor Resilience Strengthening Package (Pakej Pengukuhan Daya Tahan Selangor), which was established to help residents cope with the impact of rising living costs and economic uncertainty linked to global supply and geopolitical crises.
The programme was initially rolled out in phases, with priority given to more vulnerable groups such as single mothers and heads of hardcore-poor households. Eligibility was subsequently expanded to households earning RM5,000 or less before the latest increase to RM8,000.
With the latest change, more middle- and lower-income households in Selangor can now apply for the assistance.
How Much Is The Kita Selangor Voucher Worth? 
<img src="https://r2.myc.my/ed722c6a9aa13f8a02a5eee2e12ff6a1dcbf72a733288ca0aed1da424083d935" />
Under the current programme, approved recipients receive RM100 each month for six consecutive months, bringing the total value of the assistance to RM600. The distribution is being carried out in phases until December 2026.
The voucher can be used towards several essential categories, including:
<ul>
<li>Food and groceries</li>
<li>Healthcare and medical needs</li>
<li>Education-related expenses</li>
</ul>
The official BKS portal states that unused balances can be carried forward to the following month, although the total assistance must be used by 31 December 2026. The vouchers are redeemed through the Selangkah app at participating merchants.
Who Is Eligible For Baucar Kita Selangor?
<img src="https://r2.myc.my/da871cdc6e3528d6b324a89b7cb503230e820544ef2c419778d29610c5fddc83" />
While the income threshold has been increased, applicants must still meet other eligibility requirements.
According to the latest announcement, applicants must:
<ul>
<li>Be a Malaysian citizen</li>
<li>Be a registered voter in Selangor</li>
<li>Reside in Selangor and have a residential address in the state</li>
<li>Have a monthly household income of RM8,000 or below</li>
<li>Be a married couple or single parent with at least one child aged 18 or below</li>
<li>Have only one recipient per household</li>
<li>Not be an active recipient of the Bantuan Kehidupan Sejahtera Selangor (BINGKAS) programme</li>
</ul>
The single-parent category also covers individuals who are single parents following divorce or the death of their spouse.
The official BKS terms also state that being registered for or actively receiving BINGKAS assistance makes an applicant ineligible for BKS.
Existing Applications Will Be Reassessed
For residents who have already applied, the latest changes could also affect the outcome of their applications.
Anfaal said applicants whose cases are still under review, those who were previously rejected, and those currently appealing will have their applications reassessed based on the new eligibility criteria.
This means households that previously exceeded the RM5,000 income threshold may now have another opportunity to qualify, provided they meet the other requirements.
How To Apply For The Kita Selangor Voucher
<img src="https://r2.myc.my/2d70f4275bd299bfff195a2ccc32d891f77e74361842d9a684a1db77e993bfcb" />
Eligible residents can submit their application through the SELangkah app, while the official Baucar Kita Selangor portal provides information on the programme, eligibility requirements and application status.
The official programme FAQ states that applications are open from 23 June 2026 until 31 December 2026, although applicants should apply as early as possible and ensure all required information and supporting documents are provided.
Official Baucar Kita Selangor portal: <a href="https://baucarkitaselangor.com/?utm_source=chatgpt.com">Baucar Kita Selangor</a>
RM131 Million Allocated For Kita Selangor Voucher
The Kita Selangor Voucher is one of the initiatives introduced under the state's broader resilience package.
The Selangor government has allocated RM355.06 million across the first and second phases of the Selangor Resilience Strengthening Package to address the effects of supply-related crises and economic uncertainty. Of this amount, RM145.8 million was allocated under Phase One, while RM209.26 million was allocated for 15 new initiatives under Phase Two.
A total of RM131 million has been allocated specifically for the Kita Selangor Voucher programme to help households manage the impact of economic uncertainty.
With the household income threshold now increased to RM8,000, the latest expansion is expected to bring the RM600 assistance to a wider group of families across Selangor.
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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Earning RM8,000 or less a month? You may now qualify for the RM600 Kita Selangor Voucher.

e0f3efc313cb09210a4636a5a20d580ebe2b292056458984bbf784ac88871121

Selangor Expands Kita Selangor Voucher Eligibility To Households Earning RM8,000 Or Below

New students entering public higher education institutions for the September/October 2026 intake will receive a one-off RM500 domestic flight ticket assistance to help cover the cost of travelling to their place of study.
Prime Minister Datuk Seri Anwar Ibrahim said the assistance will benefit 7,095 students who need to travel by air between Peninsular Malaysia, Sabah, Sarawak and Labuan to begin their studies.
The announcement was made during the national-level Malaysia Day 2026 celebration at the Borneo Convention Centre Kuching (BCCK) on 16 September.
RM500 Aid To Help With Travel Costs
<img src="https://r2.myc.my/a11020551750a9ef2cfe6d179c2115c0319402c9dc6f034d2bb58b2a4433bd71" />
The one-off assistance is intended to reduce the financial burden faced by students and their families, particularly those travelling long distances for their studies.
Eligible students include new entrants to public universities, polytechnics and community colleges for the September/October 2026 intake.
The assistance covers domestic journeys between Peninsular Malaysia, Sabah, Sarawak and Labuan. This means students who need to fly from one region to another to begin their studies can receive RM500 towards their initial travel costs.
Anwar said the matter had been discussed with Transport Minister Anthony Loke and Higher Education Minister Datuk Seri Dr Zambry Abdul Kadir before the assistance was approved.
Students Welcome The Assistance
<img src="https://r2.myc.my/e641ea0a0d06ae1fbfd5efba0b3e65e4e18d700aa495257cb79af190786adff3" />
The announcement has been welcomed by students who face significant costs when moving to another part of Malaysia for university.
For students travelling from Sabah, Sarawak or Labuan to the peninsula, or vice versa, airfare can add considerably to the expenses of starting university.
Nur Shafeira Adrieana Mohd Faizrizey, a student from Labuan who will be studying at Universiti Putra Malaysia (UPM), said the assistance would help ease the financial pressure on her family.
Students at UiTM Kota Samarahan also welcomed the initiative, particularly those travelling from states such as Selangor and Johor.
For many new students, airfare is only one of several expenses involved in starting higher education. Accommodation, daily necessities, learning equipment and other initial costs can quickly add up.
One-Off Assistance For Initial Journey
<img src="https://r2.myc.my/3f2bbcb82a525fe715cf7f69fae792f89abbaf704ffd5c27445a05ae328cc80c" />
The RM500 payment is a one-off assistance, meaning it is intended to support students with their initial journey to their institution rather than cover their travel throughout their studies.
The measure focuses on helping students get to their new place of study at a time when families may face higher upfront expenses.
It also reflects the government's wider efforts to address cost-of-living pressures and provide support for Malaysians, particularly students and families facing higher travel costs.
Part Of Wider Malaysia Day Announcements
The flight assistance was announced alongside several other measures during the Malaysia Day celebration in Kuching. These included improvements to the BUDI Madani Diesel subsidy, as well as changes involving Sarawak's special grant.
Sarawak's interim special grant was increased to RM1.5 billion in 2026, up from RM600 million previously. The federal government also said discussions with Sabah and Sarawak would continue on developing a sustainable formula for the annual Special Grant.
The measures form part of broader efforts to ensure that opportunities and government resources reach Malaysians across different regions.
For the thousands of students preparing to begin their studies away from home, the RM500 domestic flight assistance provides some financial relief as they take the next step in their education.
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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Starting uni far from home? The government is offering RM500 in one-off domestic flight aid to 7,095 new students.

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New Public University Students To Get RM500 Domestic Flight Aid

A cryptocurrency hack has taken an unusual turn after an attacker stole around 4,000 Bitcoin worth approximately US$320 million from the Liquid Network, only to return most of the funds after the vulnerability behind the incident was patched.
The attacker, whose identity remains unknown, has been described by Liquid Network as a &ldquo;purported white-hat hacker&rdquo; &mdash; an ethical hacker who exploits security vulnerabilities to expose weaknesses rather than simply taking funds for personal gain.
While around 85% of the stolen Bitcoin has now been returned, roughly 598 BTC, worth about US$47 million, remains outstanding. The incident has also forced Liquid Network to pause activity while further security measures are put in place.
What Is Liquid Network?
&nbsp;<img src="https://r2.myc.my/9946993bb795285f9e9d336b1165664ebe7e79fd0112dc1d062f186edef2856f" />
Liquid Network is a Bitcoin sidechain developed by Blockstream and launched in 2018. It was designed to make Bitcoin transactions faster and more efficient, particularly for cryptocurrency exchanges and financial institutions that need to settle trades quickly.
The main Bitcoin blockchain can take time to confirm transactions, especially when the network is busy. Liquid works differently by allowing users to move Bitcoin into the network and receive an equivalent amount of Liquid Bitcoin (L-BTC), which can then be transferred more quickly.
The network is managed by the Liquid Federation, a group of more than 80 companies including cryptocurrency exchanges, infrastructure providers and other digital-asset businesses. Around 15 federation members operate the network&rsquo;s functionary nodes that play a key role in processing transactions.
How Did The Bitcoin Hack Happen?
<img src="https://r2.myc.my/e66b57c5de0ce94ec6b4360f9fc2277e91534d4df7557c282c4fba34f4e39ff2" />
The incident was not the result of a stolen password or compromised private key.
Instead, the attacker exploited a software vulnerability involving Elements, the open-source technology underpinning Liquid Network.
According to reports, the vulnerability allowed the attacker to generate around 4,000 L-BTC without first depositing the equivalent amount of real Bitcoin. The attacker then moved the newly created tokens through SideSwap, a legitimate platform used to convert L-BTC back into Bitcoin.
SideSwap processed the transaction as valid because it could not distinguish the artificially created L-BTC from legitimate tokens. The Liquid Federation subsequently released nearly 4,000 real BTC to the attacker.
Liquid said the transaction was authorised through its peg-out system and that the relevant cryptographic key itself had not been compromised. Other digital assets on the Liquid sidechain were not affected.
The Hacker Says They Are A &lsquo;White Hat&rsquo;
The story became even more unusual when the attacker began communicating with Liquid and Blockstream through messages recorded on the Bitcoin blockchain. The hacker reportedly told the network&rsquo;s maintainers to fix the vulnerability first and patch every affected node, promising to return the Bitcoin once the system had been secured.
That led to the attacker being described as a possible white-hat hacker. In cybersecurity, white-hat hackers may deliberately exploit vulnerabilities to demonstrate that a system can be breached, sometimes returning stolen assets after a fix or receiving a bounty for identifying the flaw.
However, the label remains unconfirmed, and the hacker&rsquo;s identity and motivations have not been established.
Around 3,400 Bitcoin Returned
<blockquote class="twitter-tweet">
Update: 3,400 BTC of the roughly 4,000 BTC withdrawn on September 6 has been returned to the <a href="https://x.com/Liquid_BTC?ref_src=twsrc%5Etfw">@Liquid_BTC</a> Federation wallet. The return followed confirmation from <a href="https://x.com/Blockstream?ref_src=twsrc%5Etfw">@Blockstream</a> that the affected bridge nodes have been patched. Approximately 598 BTC remains outstanding, and&hellip;
&mdash; Samson Mow (@Excellion) <a href="https://x.com/Excellion/status/2097060644977877433?ref_src=twsrc%5Etfw">September 7, 2026</a></blockquote>

<script async="" src="https://platform.x.com/widgets.js" charset="utf-8"></script>

The unusual promise was partially fulfilled after Blockstream said the affected bridge nodes had been patched.
Following confirmation of the fix, the attacker returned approximately 3,400 BTC to the Liquid Federation&rsquo;s wallet, leaving about 598.5 BTC, worth roughly US$47 million, still in the attacker&rsquo;s possession. Despite the return of most of the funds, Liquid Network has not immediately resumed normal activity.
The network remains paused while Blockstream and Federation members carry out additional fixes, address the wider security implications and prepare for a safer restart. Users have also been warned not to send Bitcoin to Liquid peg-in addresses until the network confirms that operations have resumed.
One Of The Biggest Crypto Heists Of 2026
<img src="https://r2.myc.my/425ad94fb3bf6902c78749214836873c531d689b69f53a2018cc6c28845eda22" />
The scale of the incident makes it one of the largest cryptocurrency thefts reported this year.
The attack also highlights a wider cybersecurity problem affecting the digital-asset industry. Blockchain security firm PeckShield recorded 50 major crypto hacks in August 2026, with total losses of around US$136.3 million. That was actually lower than July&rsquo;s losses despite the number of attacks increasing by 67%.
Liquid&rsquo;s case is particularly notable because the attackers did not simply gain access to a wallet and transfer existing funds. Instead, the vulnerability allowed fraudulent L-BTC to be generated and ultimately exchanged for genuine Bitcoin held in reserve.
Crypto Security Faces Another Major Test
The Liquid Network incident comes after several other high-profile cryptocurrency security breaches this year.
A separate vulnerability involving Coldcard hardware wallets led to hundreds of Bitcoin being drained from affected devices, while a South Korean government agency was also embarrassed after accidentally revealing a cryptocurrency wallet recovery phrase in a public photograph. The latter incident resulted in digital assets worth millions of dollars being moved from the wallet.
Together, these incidents show that cryptocurrency security risks can come from many different points &mdash; including software vulnerabilities, transaction infrastructure and even basic operational mistakes.
For Liquid Network, the immediate priority is now recovering the remaining funds and ensuring that the vulnerability cannot be exploited again.
What started as a US$320 million Bitcoin heist has therefore become one of the stranger crypto security stories of 2026: an attacker drained almost the entire reserve, demanded that the vulnerability be fixed, and then returned most of the stolen Bitcoin.
The twist may sound almost too convenient, but the remaining US$47 million serves as a reminder that, white hat or not, the incident is far from completely resolved.
&nbsp;
*Sources: Visual and Reference Credits to Social Media &amp; various cross-references for context.
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White hat or not, hacking into systems and taking funds isn’t something to copy. Always protect, report vulnerabilities and stay on the right side of the law.

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