Crypto platform Zoth has fallen victim to hackers, who managed to steal around $8 million, marking a serious blow to the company and raising concerns in the crypto market.
Details of the Zoth Platform Hack
Cyvers Alerts reported that hackers breached the Zoth platform, stealing approximately $8 million. According to their analysis, attackers first compromised the Zoth deployer’s wallet and then moved the funds through a contract created by a suspicious address. The stolen funds were quickly swapped for DAI.
Reaction and System Recovery
In a March 21, 2025 X post, Zoth stated that the platform experienced a security breach, and they are actively investigating the incident. The Zoth website was temporarily taken down to identify and fix loopholes. The company commits to taking all necessary steps to restore security.
Overall Market Trends
In recent weeks, the crypto market has faced downturns, reflected in a market cap drop to $2.75 trillion and a fear and greed index at 27. Various factors, including geopolitical tensions and tariff wars, are impacting the market, heightening its volatility.
The hacking incident involving Zoth raises questions about the security of crypto platforms and highlights emerging challenges for the industry. Amid current market trends, enhanced security is becoming increasingly important.
