ZkLend hack sees $9.5M exploit, offers hacker 10% bounty for return
ZkLend hack sees $9.5M exploit, provides hacker 10% bounty for return ZkLend hack sees $9.5M exploit, provides hacker 10% bounty for return
Records presentations that over $100 million indulge in vanished from crypto tasks in 2025 to hacks and exploits.
Quilt art work/illustration by project of CryptoSlate. Image contains combined converse that would possibly maybe well well embody AI-generated converse.
ZkLend, a decentralized lending protocol on Starknet, has confirmed an exploit on its platform and urged the attacker to come relieve stolen funds.
While the platform has no longer disclosed the particular amount taken, blockchain security company Cyvers estimates the loss at approximately $9.5 million.
Bounty provide
In a Feb. 12 put up on X, the lending protocol talked about:
“We realize that which that you would be capable to well maybe be accountable for todayâs assault on zkLend. Which that you would be capable to well well preserve 10% of the funds as a whitehat bounty, and send relieve the final 90%, or 3,300 ETH to be exact, to this Ethereum take care of: 0xCf31e1b97790afD681723fA1398c5eAd9f69B98C.”
The platform assured the attacker that no honest motion would possibly maybe well well be taken if the resources had been returned forward of the time restrict of 00:00 UTC on Feb. 14, 2025. Alternatively, ZkLend intends to pursue honest measures and discover the stolen resources if the hacker refuses to live so.
The protocol emphasized the legitimacy of its question, declaring that the message used to be sent from its Ethereum ZEND token deployer chronicle. It additionally urged the public to test the options by its skilled X chronicle.
In response to the breach, ZkLend has suspended withdrawals and urged users no longer to deposit funds or repay loans till extra secret agent.
The group is actively investigating the exploit in collaboration with blockchain security experts and law enforcement agencies. Once the investigation concludes, a comprehensive portray detailing the incident and security measures would possibly be published.
Meanwhile, Cyvers reported that the stolen ETH used to be bridged to Ethereum and moved by Railgun, a privateness-targeted transaction provider. Alternatively, ensuing from Railgun’s interior insurance policies, the funds had been redirected to their long-established take care of.
Over $100 million stolen this yr
This assault on ZkLend adds to the growing checklist of security breaches in the crypto sector.
Records from DeFiLlama indicates that cybercriminals indulge in stolen over $100 million from blockchain tasks in early 2025. This follows a staggering $2.2 billion loss at some level of 303 incidents recorded in 2024.
As hacking threats persist, market observers warn that the commerce would possibly maybe well well face one other yr of heavy financial losses.
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's likely. He imparts insights on a range of topics like DeFi, hacks, mining and tradition, underlining transformative vitality.
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