ZKsync Recovers $5.7M Stolen Tokens: Hacker Accepts Bounty

The cryptocurrency world witnessed a dramatic turn of events as ZKsync successfully recovered nearly $5.7 million worth of stolen tokens following a security breach earlier this month. Despite the recovery, the price of ZKsync tokens remains subdued, reflecting market uncertainty.

ZKsync Recovers Stolen Funds Within Safe Harbor Deadline

The breach, which occurred on April 15, involved ZKsync’s airdrop distribution contract. The hacker exploited the contract’s sweepUnclaimed() function, minting 111 million unclaimed ZK tokens valued at approximately $5 million at the time.

According to BeInCrypto, the hacker agreed to return 90% of the stolen assets in exchange for a 10% bounty. The funds were transferred back to the ZKsync Security Council within the designated 72-hour safe harbor window.

ZKSync tweeted about the news and wrote, “We’re pleased to share that the hacker has cooperated and returned the funds within the safe harbor deadline. As stated in the original Security Council message, the case is now considered resolved.

“The assets are now in custody of the Security Council, and the decision on what will be done with the assets will be made by governance. The final investigation report is being prepared and will be published once completed.”

We’re pleased to share that the hacker has cooperated and returned the funds within the safe harbor deadline. As stated in the original Security Council message, the case is now considered resolved.

The assets are now in custody of the Security Council, and the decision on what… https://t.co/X0oejun9Tx

— ZK Nation (@TheZKNation) April 23, 2025

Market Reaction to ZKsync’s Recovery Efforts

Despite the successful recovery, the ZKsync token price has failed to gain significant traction. The token experienced a 16% drop following the hack and remains down by nearly 2% in the last 24 hours, trading at $0.06. The recovered amount exceeded the original stolen value due to a rise in token prices since the hack, with ZK and ETH increasing by 16.6% and 8.8%, respectively.

ZKsync’s Commitment to Security

Matter Labs, the developer behind ZKsync, reassured users that no personal funds were compromised during the incident. The company emphasized its commitment to transparency and security, stating, “We’re pleased to share that the hacker has cooperated and returned the funds within the safe harbor deadline”.

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