The development team behind ZKsync (ZK), a leading Ethereum Layer 2 scaling solution, has confirmed a security breach that resulted in the unauthorized access and transfer of approximately $5 million worth of ZK tokens. The incident was caused by a compromised administrator account that took control of unowned tokens left over from the recent ZKsync airdrop.

The ZKsync security team announced in an official statement that the attack was strictly limited to the ZK Token airdrop contract and did not affect the underlying ZKsync protocol or the ZK token contract itself.

“All user funds are safe and have never been at risk,” the team explained, adding: “The ZKsync protocol and ZK token contract remain secure and no other ZK is at risk.”

The team is currently conducting a full investigation into the incident and has implemented the necessary security measures to prevent further unauthorized access. A more detailed update is expected later today.

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ZKsync developers claimed that this was an isolated incident caused by a compromised key, rather than a broader protocol vulnerability.

Following the development, there was a sudden drop in the ZK price on Binance.

*This is not investment advice.

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