Zilliqa CEO steps down two months after X-Bridge exploit

Zilliqa CEO Matt Dyer is moving down while the team focuses on the delivery of Zilliqa 2.0 after recent bridges recovery efforts.

Matt Dyer resigned as managing director of ZILLIQA technologyannounced the company, while the project evolves towards a key transition to its improved Zilliqa 2.0 network.

In A post X On Tuesday, the company said that during the temporary period, “internal leadership will oversee daily operations as we progress towards migration to Zilliqa 2.0”. The Zilliqa team did not specify the reason for the change of leadership, but said that a “long -term strategy for the leadership of the company” will be shared after the network transition.

“We extend our gratitude for his contributions and wish him success in his future efforts.”

Zilliqa

The release of Dyer follows a difficult period for the company. In early February, Zilliqa identified a critical feat on X-Bridge, a transverse bridge to transfer assets between BNB chain And Ethereum. The feat allowed the attacker to strike the zilliqa bridge versions of native currencies on the Ethereum and BNB chain without locking the corresponding quantity of active ingredients on these networks.

Zilliqa replied by closing the relay, by stopping contracts as token manager and deploying new Zeth and ZBNB contracts. While this incident did not crush the Zil (Datures) Immediately token price, he always contributed to his decline, the token now down more than 90% compared to its summit in 2021, according to data from the Crypto.News prices monitoring page.

Commenting on the last move of the transition, the team said that it was focused on upgrading the network, adding that “its main objective remains on the successful delivery of the ZILLIQA 2.0 network improved, in accordance with our roadmap and our updated chronology.”