ZKsync Reports $5M ZK Token Theft, Price Drops 20% After 1.7M Tokens Bridged to ETH

ZKsync, a blockchain platform, has reported that its security team identified a compromised admin account that led to the unauthorized access and control of approximately $5 million worth of ZK tokens. These tokens were part of the remaining unclaimed tokens from the ZKsync airdrop.

The incident was isolated to the ZK Token airdrop contract and was caused by a compromised key. ZKsync has assured that all user funds remain safe and have never been at risk during this breach. The platform and the token contract continue to be secure.

Following the announcement, the price of ZK tokens dropped significantly, with reports indicating a decline of up to 20% within a short period. The stolen tokens have been observed being swapped, with 1.7 million tokens bridged to Ethereum and 10 ETH deposited to a HitBTC address. The price of ZK tokens also experienced a 13% drop.

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