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Adam developed Babylonia to address standard CoinJoin vulnerabilities, where change outputs are easily linked to inputs via subset sum analysis. Babylonia uses probabilistic payments to obscure exact transaction amounts and break ownership heuristics.
Adam traces the concept of statistical micropayments to a 1997 paper by Ron Rivest proposing lottery-style digital cash payments. Later, Tadge Dryja proposed probabilistic payments for Lightning to economically handle sub-satoshi transactions.
Babylonia utilizes adapter signatures and zero-knowledge proofs to let parties execute a trustless, on-chain bet that reveals outcomes atomically. To prevent amount correlation, Adam updated the protocol to split single bets into multiple secret, unequal portions.
Liquid Network attackers returned 3,400 of the 4,000 stolen Bitcoin but kept nearly 600 coins as a ransom. Adam Back confirmed the Liquid peg will remain fully covered one-to-one, while Blockstream refuses to negotiate with the hackers.
Adam Back announced the Liquid network peg will remain one-for-one. Blockstream and its partners are plugging the remaining 600 BTC deficit after the hacker returned 3,400 BTC through encrypted OP_RETURN negotiations, keeping 15 percent as an unsolicited bounty.