Recently, the Starknet-based protocol zkLend lost over $9 million in Ethereum due to a hacker's attack. Measures have been taken by the service to investigate and recover the lost assets.
Hack Details
On February 12, zkLend officially acknowledged the hack. They stated that their internal team is currently investigating the root cause of the exploit. Meanwhile, all protocol withdrawals have been paused until further notice. The total loss exceeded $9 million in Ethereum.
zkLend's Response and Demands
In a recent statement addressed to the hacker, zkLend offered to allow the hacker to keep 10% of the stolen funds as a 'whitehat bounty'. However, the protocol demands the return of 90% of the stolen funds, amounting to 3,300 ETH or $8.6 million according to current market prices. They confirmed working with security firms and law enforcement at this stage, threatening legal action if demands are not met.
Consequences and Next Steps
Completion of the 90% fund return will allow the protocol to release the hacker from all charges regarding the attack. If the hacker fails to respond by the deadline, zkLend will seek assistance from law enforcement to track and prosecute the culprit. The protocol is actively tracking the moving funds and collaborating with other entities to identify the perpetrator.
The hacking incident raises concerns within the crypto community regarding the security of decentralized finance, highlighting the need for more rigorous control and security in this area.
