Shockwaves in Crypto: ZKsync's $5M Airdrop Heist!

Hackers Exploit Admin Account, Drain Millions in ZK Tokens

Hang onto your hats, crypto fans! ZKsync just got rocked by a jaw-dropping exploit that saw hackers siphon off a cool $5 million worth of ZK tokens straight from the airdrop contract. Talk about a bold move!

But breathe easy—your funds are safe! ZKsync's team assures us that this cyber heist only nabbed unclaimed tokens. The core protocol? Untouched. They spilled the beans on X, and the crypto world is buzzing!

"This is an isolated incident caused by a compromised key and confined to the ZK Token airdrop contract," the security squad at ZKsync declared. They're hot on the trail, with a full-blown investigation underway. Expect a detailed report soon, folks!

Get this—the exploit triggered a wild sell-off. ZK token prices plummeted 15-20% around 13:50 UTC, leaving investors reeling. At the time of writing, ZK was down about 11% on the day. Yikes!

The culprits? A compromised admin account that hijacked roughly $5 million in ZK tokens—those were the last unclaimed tokens from the ZKsync airdrop. Security measures are being beefed up as we speak. And remember, your funds? Safe and sound!

It looks like the breach was pulled off with stolen admin credentials linked to the contract handling the leftover airdrop goodies. ZKsync is adamant that the protocol and the ZK token contract are still locked down tight. No more tokens are in danger!

Remember when ZK tokens hit the scene back in June 2024? That airdrop was the talk of the town, but not everyone was thrilled. Critics cried foul over Sybil resistance and the fairness of how those tokens were spread around.

Developed by the brainiacs at Matter Labs, ZKsync's got a total supply of 21 billion ZK tokens. And after this rollercoaster of a day, the crypto world is left wondering: what's next for ZKsync?