Key Takeaways
- ZKsync’s ZK token fell 17% after a $5 million theft from its airdrop contract.
- The compromised admin account didn’t have an effect on the principle protocol or consumer funds, however the incident brought on a token sell-off.
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ZKsync’s ZK token plunged over 15% immediately, falling from $0.047 to underneath $0.04 inside an hour after an attacker exploited a compromised admin account to steal roughly $5 million price of unclaimed tokens from the mission’s airdrop contract.
The ZKsync safety crew stated that whereas an admin key linked to the airdrop contract was compromised, the incident was remoted and didn’t have an effect on the principle protocol or ZK token contract. All consumer funds stay safe.
The safety breach, though restricted to the airdrop reserve, triggered a fast sell-off that contributed to the sharp decline within the token’s worth. ZKsync has initiated an inside investigation and introduced plans to offer a full replace later immediately.
ZKsync safety crew has recognized a compromised admin account that took management of ~$5M price of ZK tokens — the remaining unclaimed tokens from the ZKsync airdrop. Mandatory safety measures are being taken.
All consumer funds are secure and have by no means been in danger. The ZKsync…
— ZKsync (∎, ∆) (@zksync) April 15, 2025
A number of altcoins have skilled a sudden worth decline lately. Yesterday, Story Protocol’s IP token out of the blue dropped over 20%.
OM, the native token of the MANTRA ecosystem, experienced a 90% drop in worth final weekend, plummeting from over $6 to $0.37. The drastic discount erased billions in market worth with hypothesis across the trigger pointing to potential sell-offs by the mission crew.
The mission and its buyers have denied these allegations, attributing the sharp decline to compelled liquidations on an unnamed trade.
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