zkLend, a Starknet-based protocol, has suffered a security breach resulting in the loss of over $9 million in ETH. The platform has temporarily halted all withdrawals and initiated an internal investigation.
Details of the Exploit
In an official statement on the platform X, zkLend developers confirmed the breach and offered the hacker a deal to return 90% of the stolen assets—around 3,300 ETH, valued at $8.6 million—while keeping the remaining 10% as a 'whitehat bounty'.
Platform's Response
The zkLend team stated that they are working with security firms and law enforcement agencies. If there is no response from the hacker by February 14, 2025, the team plans to take further steps to trace and prosecute the perpetrator. They have also enlisted the help of several organizations, including the Starknet Foundation and Binance Security Team.
Parallels with Other Cases
This exploit follows a recent attack on Orange Finance, a major liquidity management protocol on the Arbitrum network, which lost over $840,000 in early January. The attackers gained control of the admin address, upgraded the protocol’s contracts, and drained the funds.
The exploit of the zkLend protocol highlights the vulnerabilities in the security systems of decentralized finance and the need for additional protection for users and their assets.
