On April 15, 2025, ZKsync reported a hack on its admin wallet, resulting in the minting of 111 million ZK tokens. The incident impacted the company's reputation and market volatility.
Details of the Hack
The hack compromised a wallet responsible for token distribution through airdrops. The attacker managed to mint 111 million unclaimed ZK tokens, significantly increasing market supply. However, the core system and user funds remained unaffected.
Market Response and Expert Opinions Post-Hack
The market reacted swiftly, with the ZK token price dropping by 11-17%. Discussions within the crypto community show a proactive stance towards fund recovery. Twitter comments and user discussions drew parallels to previous vulnerabilities. 'The breach was limited to the airdrop contract, with no impact on user funds, protocol security, or the ZK token's core smart contracts.'
Future Perspectives and Security Recommendations
Experts suggest enhancing private key management and reducing reliance on centralized admin accounts to mitigate future risks. Governance transparency could improve community trust and facilitate stronger security protocols.
The ZKsync incident raises important questions about security in the crypto space, highlighting the need for stricter protective measures and open communication channels to improve overall trust and security.
