The ZKsync team has confirmed information about the hack of the airdrop contract, which resulted in a loss of $5 million in ZK tokens for the project. The token price fell by nearly 20% as a result of this incident.
This is reported by Business • Media
Administrator Account Hack
According to a report from the ZKsync security team, a compromised administrator account responsible for the ZK token airdrop contract was discovered. The attacker was able to gain control of unused tokens, which were stolen for approximately $5 million.
“This is an isolated incident related to a compromised key that was used to manage the airdrop contract,” the team stated in an official announcement.
User Funds Security
The ZKsync team emphasized that all user funds are secure and have never been at risk. The main ZKsync protocol, as well as the ZK asset contract, have not been negatively affected. “No other ZK tokens are at risk. We have already taken all necessary security measures,” project representatives noted.
Currently, an internal investigation is underway, after which a full report will be published. The incident caused a sharp decline in the project’s asset price by nearly 20%, likely due to the sale of the stolen tokens. At the time of writing, the asset is trading at $0.04587, according to CoinMarketCap.
It is worth noting that the project’s token airdrop in 2024 attracted attention both for its scale (21 billion ZK in total issuance) and for criticism, particularly due to accusations of unfair distribution and failure to filter sybil accounts. After listing on exchanges in June of last year, the asset’s price fell by over 20%.