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 answerable for at this time’s assault on zkLend. Chances are you’ll hold 10% of the funds as a whitehat bounty, and ship again the remaining 90%, or 3,300 ETH to be actual, to this Ethereum tackle: 0xCf31e1b97790afD681723fA1398c5eAd9f69B98C.”
The platform assured the attacker that no authorized motion can be taken if the belongings have been returned earlier than the deadline of 00:00 UTC on Feb. 14, 2025. Nevertheless, ZkLend intends to pursue authorized measures and monitor the stolen belongings 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 knowledge by way of 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 staff is actively investigating the exploit in collaboration with blockchain safety specialists and regulation enforcement businesses. As soon as the investigation concludes, a complete report detailing the incident and safety measures will likely be printed.
In the meantime, Cyvers reported that the stolen ETH was bridged to Ethereum and moved by way of Railgun, a privacy-focused transaction service. Nevertheless, because of Railgun’s inner insurance policies, the funds have been redirected to their authentic tackle.
Over $100 million stolen this yr
This assault on ZkLend provides to the rising checklist of safety breaches within the crypto sector.
Information from DeFiLlama signifies that cybercriminals have stolen over $100 million from blockchain tasks 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 might face one other yr of heavy monetary losses.
