ZKsync Admin Wallet Breach: $5M in ZK Tokens Stolen
15.04.2025 15:45
On April 15, 2025, a security breach in the admin wallet of the layer-2 blockchain ZKsync resulted in hackers stealing $5 million worth of ZK tokens, which were unclaimed tokens from an ongoing ZKsync airdrop. ZKsync confirmed the incident via Twitter and stated that necessary security measures have been put in place. Following the breach, the ZK token experienced a sharp 14% price drop over the past 24 hours, alongside a 96% increase in trading volume, reaching $71 million. The protocol described the attack as an isolated event, limited to the airdrop contract, aiming to reassure the community that other aspects of the ecosystem remain unaffected.
The breach has immediately generated negative sentiment around the ZK token, illustrated by a 14% drop in price as investors react to the compromised security. The incident, involving the theft of unclaimed tokens from an airdrop, undermines trust in the platform's security protocols. Short-term effects are likely to include increased volatility and cautious trading, while long-term recovery will depend on effective security upgrades and transparent communication from the ZKsync team to rebuild investor confidence. Historical instances of security breaches in crypto have led to prolonged bearish trends until corrective measures restore confidence.
Sources
Ethereum Layer-2 ZKsync Confirms $5 Million Theft via Compromised Airdrop Admin Account
coinfomania.com
16.04.2025 13:15
ZKsync Hack Exposes $5M Flaw in Token Distribution
crypto-news-flash.com
16.04.2025 09:00
ZKsync Confirms $5M Airdrop Exploit, User Funds Safe
altcoinbuzz.io
16.04.2025 09:05
Top Today
today / 04:03
Grayscale Files Preliminary Registration for Cardano and Hedera ETF Trusts in Delaware
yesterday / 19:02
Coinbase Revives Stablecoin Bootstrap Fund to Boost USDC and EURC Liquidity Across Major DeFi Platforms
yesterday / 17:33
Binance Joins T3+ Security Alliance, Freezes $6M in Scam as Initiative Tops $250M in Seized Illicit Assets