ZK token crashes after $5m airdrop exploit confirmed by ZKsync

ZKSYNC confirmed that a compromised administration account had drained around $ 5 million of ZK tokens from his Ardrop contract.

The feat only affected the non -claimed tokens and did not compromise the user funds or the basic protocol, said the team in a statement on X.

“This is an isolated incident caused by a compromised key and confined to the ZK tokens stand contract,” the ZKSYNC security team wrote. An investigation is underway and the team has promised a detailed incident report.

The feat sparked a clear sale, with the ZK token price falling between 15 and 20% around 1:50 p.m. UTC. At the time of the press, ZK dropped by around 11% on the day, according to CoinmarketCap.

The violation seems to have come from the stolen administration diplomas linked to the contract managing the allowances of the remaining air cuts. Zksync stressed that the protocol itself and the ZK token contract remain safe and that no additional token is at risk.

The ZK token spear In June 2024 as part of an aerial card expected for a long time. Although the deployment is significant, it has also aroused criticism of the resistance to Sybil and the perceived inequalities of the distribution.

Zksync, developed by Matter Labs, has a total offer of 21 billion ZK tokens.