The post ZKSync Hacker Returns $5.7 Million Amid Ongoing Bearish Sentiment Surrounding ZK Token appeared on BitcoinEthereumNews.com.

In a surprising turn of events, the ZKsync hacker returned approximately $5.7 million in stolen funds after agreeing to a 10% bounty offered by the ZKsync Security Council. While this recovery marks a notable victory for the ZKsync community, the native token, ZK, has not benefited, exhibiting continued bearish market sentiment with a nearly 2% price decline. The hacker’s decision to return the bulk of the funds echoes past resolutions in the cryptocurrency space, reminiscent of the Ronin Bridge hack cases. This article explores the recent hacking incident with ZKsync, the return of stolen funds, and the implications for the ZK token’s market performance. ZKSync Hacker Returns $5.7 Million On April 15, the Ethereum-based Layer-2 scaling solution ZKsync faced a significant security breach, leading to the compromise of an account controlling upwards of $5 million in ZK tokens. As reported by COINOTAG, this incident triggered a sharp 16% decline in the token’s market price. The situation escalated further when community members raised concerns about the ZKsync team’s actions post-hack. Allegations suggested that ZKsync might have mismanaged the aftermath similar to what was seen with Mantra (OM), which heightened worries about the project’s stability. “The ZKsync team has released 110 million tokens and sold 66 million. The price of ZK is moving against the market recovery trend, dropping 15% immediately thereafter,” lamented an outspoken user, highlighting the community’s growing unease. In a significant development, however, the ZKsync Association confirmed that the hacker returned 90% of the stolen assets, effectively meeting the safe harbor deadline offered during negotiations to resolve the security incident. “We’re pleased to share that the hacker has cooperated and returned the funds,” read a post from the ZKsync Security Council, confirming the resolution of the case. “The assets are now in the custody of the Security Council for…

---

Filed under: News - @ April 24, 2025 10:21 am