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I wasn't even aware that they marketed it as an L2 nowadays. I remember it being a sidechain in the beginning. I never really read the marketing materials though, so yeah, that is bad. You shouldn't pimp your chain. That's exactly what a lot of the shitcoiners do.
Re: ZK. Wasn't even that. This was the same class of bug as the 0.14 one in Core. Fucking up optimization of not having to do the compute. Pretty common, ask the x86 industry: they're the experts at fucking up caching.
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Problem with Liquid is they market it as an L2
They could have marketed as a risk-minimized exchange but even that would be dubious since the controls they fucked up still exist as a SPOF
I always expected it'd be an API/Sig coordination failure, ZK stuff is always hyped by crypto-theater kids so for things around that to be the root cause wasnt first on my list but not entirely out of left field either.