zkLend, a decentralized money lending platform on the Starknet blockchain, has fallen victim to a major exploit, with the hacker draining $9.5 million in crypto assets.
Blockchain security firm Cyvers confirmed that the stolen funds were initially bridged to Ethereum and funneled through the privacy protocol Railgun.
The funds were then redirected to the original address due to the protocol’s internal policies, Cyverse said on Monday.
Following the incident, zkLend paused all withdrawals and advised users to hold off on depositing or repaying loans while they investigated the incident.
Withdrawls on the protocol have been paused at this time.
We are still working to determine the root cause of the exploit. Please refrain from depositing or repaying at this time.
— zkLend (@zkLend) February 11, 2025
The breach has raised alarm bells in the DeFi space, as it comes as a part of growing security co...
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