ZKsync Admin Wallet Hacked, $5M in Tokens Stolen

The project’s security team revealed the breach on social media, emphasizing that core protocol components and user funds remained untouched.

The attacker reportedly gained access to a private key associated with the wallet controlling unclaimed airdrop tokens, allowing them to transfer and sell a significant amount of ZK.

While the exploit did not impact any user wallets, it did trigger a sharp market reaction, with ZK’s price plunging roughly 20% before partially recovering to a 15% decline.

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In response, the ZKsync team stated that all critical systems, including the token contract itself, remain secure. An investigation is underway, with a more detailed breakdown of the incident expected later.

ZKsync, developed by Matter Labs as an Ethereum Layer 2 scaling solution, launched its token in mid-2024 with a total supply of 21 billion. However, its airdrop campaign has faced criticism over perceived inequities and issues with bot-driven farming.

This latest incident adds to growing concerns around the project’s oversight and security posture.

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