ZkLend, a decentralized lending protocol on Starknet, has confirmed an exploit on its platform and urged the attacker to return stolen funds.
Whereas the platform has not disclosed the precise quantity taken, blockchain safety agency Cyvers estimates the loss at roughly $9.5 million.
Bounty provide
In a Feb. 12 put up on X, the lending protocol said:
“We perceive that you’re accountable for at the moment’s assault on zkLend. You could maintain 10% of the funds as a whitehat bounty, and ship again the remaining 90%, or 3,300 ETH to be precise, to this Ethereum tackle: 0xCf31e1b97790afD681723fA1398c5eAd9f69B98C.”
The platform assured the attacker that no authorized motion can be taken if the property have been returned earlier than the deadline of 00:00 UTC on Feb. 14, 2025. Nonetheless, ZkLend intends to pursue authorized measures and monitor the stolen property if the hacker refuses to take action.
The protocol emphasised the legitimacy of its request, stating that the message was despatched from its Ethereum ZEND token deployer account. It additionally urged the general public to confirm the data via its official X account.
In response to the breach, ZkLend has suspended withdrawals and suggested customers to not deposit funds or repay loans till additional discover.
The workforce is actively investigating the exploit in collaboration with blockchain safety consultants and regulation enforcement companies. As soon as the investigation concludes, a complete report detailing the incident and safety measures will probably be revealed.
In the meantime, Cyvers reported that the stolen ETH was bridged to Ethereum and moved via Railgun, a privacy-focused transaction service. Nonetheless, on account of Railgun’s inside insurance policies, the funds have been redirected to their unique tackle.
Over $100 million stolen this yr
This assault on ZkLend provides to the rising listing of safety breaches within the crypto sector.
Information from DeFiLlama signifies that cybercriminals have stolen over $100 million from blockchain initiatives in early 2025. This follows a staggering $2.2 billion loss throughout 303 incidents recorded in 2024.
As hacking threats persist, market observers warn that the business may face one other yr of heavy monetary losses.
