TL;DR
- ZKsync suffered a cyber attack that compromised an admin account, stealing around $5 million in ZK tokens from unclaimed airdrop funds.
- The protocol ensured that user funds are safe and were unaffected, maintaining the integrity of the contracts and the ZK token.
- The attack caused a 8.3% drop in the price of ZK. The protocol is continuing with the investigation and implementing security measures.
ZKsync, the layer 2 solution for Ethereum developed by Matter Labs, has suffered a cyber attack.
According to the security team, approximately $5 million in ZK tokens were stolen from a compromised admin account. The attacker obtained these funds from the unclaimed tokens of the airdrop, prompting a quick reaction from the community and the market.
According to ZKsync, User Funds and Contracts Were Never at Risk
Fortunately, user funds were not affected. The ZKsync team assured that all user reserves are safe and were never at risk. Additionally, the protocol and ZK token contracts remained intact.
In a social media post, ZKsync stated that it is taking the necessary steps to reinforce security and prevent future incidents. The investigation into the origin of the attack is ongoing, and the team promised to provide a detailed report later.
The incident caused a sharp drop in the token price, which experienced a 20% decrease, possibly due to the sale of the stolen tokens. However, it rebounded and recovered some of the losses. According to the latest data from CoinMarketCap, ZKsync (ZK) is trading at $0.0456 per unit, marking a daily decline of 8.3%. As is common in these cases, the market has shown a highly reactive response to cyberattacks.
ZKsync launched its ZK token in June 2024, and the accompanying airdrop faced criticism due to the perceived uneven distribution of tokens. Some users felt that “Sybil farmers” were not adequately filtered out, affecting the fairness of the event.
The protocol is known for its ability to improve Ethereum’s scalability. ZKsync remains one of the most promising solutions within the blockchain ecosystem. However, the attack underscores the importance of maintaining high security standards, especially when managing large amounts of assets.
