zkLend Requests Return of $8.4 Million in Stolen Funds After Hack
zkLend, a money market and lending protocol, has confirmed a loss exceeding $9 million due to a recent security breach. The protocol has paused all withdrawals to limit further risks and initiated an investigation.
Recovery Efforts
- zkLend has requested the hacker return 90% of the stolen funds, approximately 3,300 ETH worth around $8.4 million.
- No legal action will be taken against the hacker if the funds are returned; the hacker may keep 10% as a reward.
- An on-chain message assures the hacker of liability release upon fund return.
Context of DeFi Hacks
- zkLend is among several DeFi protocols recently targeted by attackers exploiting vulnerabilities in smart contracts.
- In January, Moby Trade was exploited for $2.5 million, and the BNB Chain experienced 10 attacks leading to significant losses.
- DeFi hacks accounted for $474 million in losses in 2024, a 40% decrease from $787 million in 2023.
zkLend is working with authorities to trace the stolen funds and identify the hacker. The industry is increasingly focusing on enhancing security measures amid ongoing threats.