ZKsync Hacker Accepts Bounty, Returns Nearly $5M in Stolen Crypto
A hacker returned nearly $5 million stolen from ZKsync’s airdrop contract within a 72-hour deadline, resolving the exploit. The recovered assets include over 44.6 million ZK tokens and nearly 1,800 ETH, now held by the ZKsync Security Council for further action. The exploit involved a compromised key that allowed the attacker to mint new tokens and reroute unclaimed funds. ZKsync assured that all user funds were safe and the protocol remained secure. A 10% bounty was offered for the return of 90% of the funds, with a warning of law enforcement involvement if ignored. The ZK token price briefly dropped to $0.04 but stabilized around $0.05. The incident is part of a broader trend in the crypto sector, with nearly $1.6 billion stolen in early 2024, driven by significant hacks and private key compromises. Only 0.38% of stolen funds were recovered this quarter, a sharp decline from previous recovery rates. Ethereum was the most targeted platform, suffering losses of nearly $1.54 billion across multiple incidents.
