A little while ago, there was some commotion over a user losing 4 BTC through the Lightning Network. That situation has now changed for the better.
A lot of people were taken aback by how unsecure the Lightning Network turned out to be.
Rectifying the Lightning Network Narrative
If a user could lose 4 BTC worth of funds, the technology clearly wasn’t ready for prime time use.
The affected individual recently returned to Reddit to further explain the situation.
It turns out most of the funds have been recovered with the help of the LND community.
Part of this situation was caused by the user himself due to incorrectly closing payment channels in the way he did at the time.
A lot of valuable lessons have been learned from this incident, for rather obvious reasons.
While this user managed to recoup most of his funds, one has to wonder if others could be affected as well.
That is certainly the case, assuming they do not take the proper precautions to close their payment channels.
The Reddit user also offers some very helpful advice in this regard.
Cryptocurrencies allow users to be in full control of their money, which means they need to take the proper precautions at all times.
With the Lightning Network, those precautions only become even more crucial, as can be seen in this particular case.
The Lightning Network is a fun solution, but one that isn’t too forgiving for users who don’t take it seriously.
Reading up on the necessary documentation is a good place to start before committing any funds.