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Matter Labs, the company behind layer-2 blockchain ZKSync, has been sued by BANKEX, a defunct digital asset banking platform, for intellectual property theft.
The Zksync team has given the hackers behind a recent exploit a 72-hour ultimatum to return 90% of stolen funds, or face criminal liability.
The crypto market is attempting a recovery, with Bitcoin (BTC) nearing the $90,000 milestone. Amidst improving sentiment, several startups are launching enticing airdrops, providing crypto enthusiasts with opportunities to engage with budding platforms without initial financial input.
The Ethereum scaling-focused ZKsync team said one of their admin accounts was accessed and compromised, leading to the theft of over 100 million tokens.
ZKsync suffered a breach, resulting in $5 million in stolen ZK tokens. An admin account, particularly one with links to smart contracts responsible for airdrops, was compromised.
ZKsync and KiloEx are responding to separate security incidents involving a combined loss of over $12 million, as both platforms work with partners to recover funds.
Hacks are, unfortunately, rather common in crypto. However, a hack of the airdrop funds is rather unusual.
A ZKsync admin account was compromised on April 15, which allowed an attacker to mint about $5 million worth of unclaimed ZK tokens.
The administrator account for the Ethereum layer-2 scaling network ZKsync has been compromised, resulting in $5 million in losses.
On April 15, 2025, ZKsync confirmed that $5 million worth of ZK tokens were stolen after an admin wallet linked to the project's airdrop contracts was compromised.
A hacker compromised a ZKsync admin account on April 15, minting $5 million worth of unclaimed airdrop tokens, according to a statement from the official ZKsync X account. The attack was described as isolated, with no user funds affected.Following an investigation, ZKsync detailed the incident on April 15, disclosing that the compromised account had administrative control over three airdrop distribution contracts.
ZKsync's admin account was hacked, stealing $5M in tokens. The project confirms user funds are secure.
The protocol said that all user funds were safe.
Ethereum (ETH) Layer-2 scaling solution ZKsync (ZK) has suffered a significant exploit, resulting in the loss of $5 million worth of ZK tokens. The breach, which targeted the platform's smart contract infrastructure, has been acknowledged by the protocol through a post to the social media platform X.
The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.
A compromised admin account connected to ZKsync's airdrop contracts executed a transaction that minted approximately $5 million worth of ZK tokens, stealing the remaining unclaimed allocation from the network's first token distribution. The attacker exploited a function to claim the tokens on April 15 and issued around 111 million ZK tokens, equivalent to roughly 0.
ZKsync confirms that approximately $5 million in airdrop tokens were stolen due to a compromised admin account.
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.
ZKsync confirmed that a compromised admin account drained approximately $5 million worth of ZK tokens from its airdrop contract.
On Tuesday, shortly before 10 a.m., Zksync revealed a breached administrative account had commandeered $5 million in ZK tokens. The cryptocurrency nosedived 13% against the U.S. dollar to $0.04151 in the wake of the announcement, erasing gains with algorithmic swiftness.
ZKsync announced that one of its admin accounts, which controlled $5 million worth of ZK tokens, was hacked. The project has also reportedly dumped more than 66 million additional tokens.
The ZK token, introduced in June 2024 through a controversial airdrop, is down approximately 15%, according to The Block's data page.
The exploit highlights vulnerabilities in crypto airdrop security, potentially undermining investor confidence and impacting market stability. The post ZKsync's ZK token drops over 15% after airdrop contract exploit, $5 million stolen appeared first on Crypto Briefing.
An admin wallet for layer-2 blockchain ZKsync was compromised on Tuesday with the hacker taking off with $5 million worth of ZK tokens.
