- ZkLend lost over $4.9 million in a cyber attack.
- The ZkLend team gave a bounty for the stolen assets.
It is just the second month of 2025 and the crypto universe witnessed another massive hack. Decentralized money lending protocol zkLend was hacked and lost over $4.9 million in assets.
On February 12, blockchain security firm Cyvers revealed in their X post that ZkLend was exploited on the Starknet network and lost $4.9 million.
Cyvers said,
“zkLend has suffered a $4.9 million exploit on the Starknet network. Stolen funds were bridged to Ethereum and laundered via Railgun, but due to protocol policies, the funds were returned to the original address by Railgun!”
In response to the hack, zkLend reached out to exploiters and offered a whitehat bounty of 10% of the funds. The team said that they agreed to release from any liability regarding the attack.
The team provided their Ethereum address: 0xCf31e1b97790afD681723fA1398c5eAd9f69B98C demanding 90% of funds back to this address. zkLend warns attackers that if they don’t get a response from them by 00:00 UTC, 14th Feb, they will proceed with the next steps to track and prosecute attackers.
zkLend added that they are working with security firms and law enforcement to track the culprits.
Despite YoY decrease in Hacks January 2025 See More Hacks
Despite there being a 44% year-over-year decrease in crypto hacks, in January 2025 crypto industry lost $73 million in assets. Experts are in fear that 2025 could be the next big year in terms of crypto hacking activities.
In 2024 attackers stole over $2.3 billion in 165 hacking incidents. This is a 40% increase over 2023 where $1.69 billion of crypto assets was Looted.
It has been seen that some hackers do these exploits for bounties and return the amount after the team reaches out to them. However, only time tell whether hackers will return funds to zkLend or not.
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