An estimated $5 million in ZK tokens were stolen on Tuesday when a hacker accessed an admin wallet that was linked to the ZKsync airdrop.
The tokens were all of the unclaimed assets from the airdrop, and the attacker had time to transfer them before the anomaly was noticed.
In a tweet (X), ZKsync, an Ethereum layer-2 blockchain to scale Ethereum with zero-knowledge proofs, reiterated that security is being implemented to mitigate the breach.
ZKsync also said the hack was a contained incident, impacting only the ZK token airdrop contract. It explained that the breach stemmed from a hacked admin key.
Importantly, they assured consumers that the basic ZKsync protocol and the main ZK token smart contract were unaffected, and that all user funds were totally secure.
Following the incident, the price of the ZK token dropped by about 11% in 24 hours. Meanwhile, trading volume jumped by 143%, reaching $87 million, as traders reacted to the sudden news.
ZKsync indicated that their security team has moved quickly to contain the issue and avoid any further problems. An investigation continues, and the team vowed to post a full update in due course.
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