UPDATE: Blockstream turns down Liquid hackers' 10% ransom bid; nearly 600 BTC still missing after $320M exploit

Blockstream's refusal to meet the Liquid hackers' 10% ransom demand, with nearly 600 BTC still outstanding from the reported $320M exploit, highlights ongoing counterparty and custody risk in crypto market infrastructure. The limited near-term recovery signal can weigh on risk appetite and increase scrutiny of exchange-linked assets, while any movements of the unrecovered BTC could raise sensitivity around on-chain flows.