Has been shown to be alive, and has a scar on her face, most likely caused from an attack by Fire Dragon. She takes a stand against Reunion along with Lightning Tiger, and is currently attempting to kill Yuri. Presumably, from the name, another master of the Five Paths of Heaven's Riches who uses the Water element.
Liquid Shark returns in chapter 78 as part of the four images assault force of the heaven's riches faction unit to kill Yuri as part of Vera's deal to eliminate all Reunion trained or linked students in an attempt to restore the "one person inherits all, no one else will inherit" of Korean martial arts in order for Vera to become accepted as the head of the Heaven's Riches Faction.
Liquid Shark is a tall long haired woman with burn scaring down the right side of her face, Judging by her response it is likely she suffered these injuries in battle with Fire Dragon when she aided Lighting Tiger in the interruption of Yuri's deification ceremony. Fire Dragon believed she was dead after the battle.