LN is nothing more than a 3rd party offchain IOU system.
Time Lock coins on any segwit coin, ie: btc or ltc or others
Make LN contracts (IOUs) to other LN parties ,
Once concluded, hopefully redeem said amount on whichever blockchain you used to begin with.

Work on LN instant channels , for users to seem to have actual funds,
but they never waited to verify the onchain time lock actually confirmed.
Which opens the potential for fractional reserves and counterfeiting something blocked by the blockchain itself.
No different than modern banks fractional reserve shenanigans.

Slick, how they screwed the blockchain users by offering offchain banking.  

FYI:
Little known facts, use LN incorrectly and you actually increase the number of onchain transactions needed.
LN used correctly to lower onchain transactions, must be primary between the same parties at enough transactions to decrease onchain transactions compared to just paying onchain.
Using a gift card has proved superior to LN in lowering onchain transactions for normal people.
Using LN with Litecoin is ~33X cheaper than using LN with btc, also since litecoin has plenty of onchain capacity ,
this decreases the threat of losing funds due to a offchain transactions not being onchain at the specified time.