In a shocking turn of events, zkLend, a lending protocol built on Starknet, became the target of a significant cyberattack that resulted in the loss of more than $9 million in Ethereum. The platform has since taken immediate action by halting all withdrawal transactions and launching an internal investigation to uncover the details behind this breach.
Can zkLend Recover the Stolen Funds?
In an effort to recover the stolen cryptocurrency, zkLend has reached out to the hacker, proposing a 10% reward for the return of 3,300 ETH, valued at around $8.4 million. They assured the hacker that no legal actions would be pursued if the funds were returned, indicating a willingness to negotiate.
What Security Measures Are Being Implemented?
To safeguard against future attacks, zkLend has engaged with blockchain security experts. The team is utilizing advanced tracking tools to monitor the flow of stolen assets and investigate the method of the attack.
The incident has raised alarms regarding protocol vulnerabilities, prompting zkLend to focus on enhancing their security framework. Key points include:
- Over $9 million in Ethereum stolen from zkLend.
- The protocol has temporarily suspended all withdrawals.
- zkLend is negotiating for the return of 3,300 ETH with the hacker.
- The team is working with cybersecurity specialists to prevent future breaches.
This attack underscores the critical need for robust security practices within decentralized finance platforms, especially as zkLend previously attracted significant investments totaling $5 million from reputable backers. Currently, the total value locked in zkLend is about $1.2 million, as reported by DeFiLlama.
