US EditionzkLend Announced It Is Winding Down After Suffering a Serious Exploit
7 Articles
7 Articles
zkLend Winds Down After February Exploit Erodes Confidence
Starknet-based decentralized lending protocol zkLend has officially announced its decision to shutter operations after a major exploit in February that resulted in losses between $9.5 million and $10 million. The zkLend attacker was able to drain funds by exploiting a decimal precision vulnerability in the protocol’s smart contract code on Starknet. “This decision was not made lightly. Over recent months, the exploit we suffered has deeply erode…
zkLend announced it is winding down after suffering a serious exploit
Decentralized lending protocol zkLend has announced that it will wind down operations and devote its remaining treasury to a user recovery fund after a disastrous $9.5 million exploit in February and subsequent loss of token liquidity. The decision, shared in a post on X by the zkLend team, marks the end of the Starknet-based protocol’s brief run in DeFi. Dear zkLend Community, It is with a heavy heart that we announce our decision to wind down …
zkLend Winds Down After Major Security Breach - Blockchain & Cryptocurrencies Tabloid
zkLend, a decentralized lending protocol on Starknet, winds down after a $9.5M breach, allocating $200K to user recovery funds. The post zkLend Winds Down After Major Security Breach appeared first on Blockchain & Cryptocurrencies Tabloid.
Key news points: zkLend definitely closed after losing $9.5 million in an attack and that its ZEND token was excluded from exchanges such as Bybit and KuCoin. The protocol will target the remaining $200,000 to a recovery fund for affected users and release its audited source code for the DeFi community. Hacker lost $5.4 million by sending them to a phishing site. zkLend keeps an active $500,000 reward for information to capture it. zkLend, a dec…
CoinStats - zkLend Winds Down Business After Months-Old $...
zkLend, a decentralized crypto lending platform built on Starknet, is officially shutting down after suffering a major hack worth over $9 million. In February 2025, the platform was attacked through a bug in its smart contract system. This allowed the hacker to manipulate the lending process and withdraw far more Ether (ETH) than they had deposited. In total, approximately 3,300 ETH, valued at around $9 million at the time of the theft, were sto…
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