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ZKsync faces backlash after a compromised admin account was exploited to mint 111M ZK tokens, worth over $5M. The breach raises serious concerns about the project’s security and future direction.
- A compromised ZKsync admin account was exploited to mint 111M ZK tokens (~$5M), raising security concerns.
- Despite the breach, ZKsync's tech is still used by institutions like UBS for gold tokenization and by Lagrange for decentralized proofs.
- ZK token price and TVL have dropped significantly, but the network remains a major liquidity hub with $795M in bridge TVL.
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Related Tags: UBS Group AG