zklend

ChainCatcher news, the Starknet ecosystem project zkLend announced on social media that the project will gradually shut down.The official statement emphasized that this decision was not made lightly. Over the past few months, the security vulnerabilities encountered by zkLend have severely shaken user confidence, and the recent delisting of the ZEND token from major trading platforms such as Bybit and KuCoin has further restricted the token's liquidity and accessibility. These changes have made it difficult for zkLend to effectively allocate resources to develop new business.In light of the current situation, zkLend believes that using the remaining $200,000 in treasury funds for a user compensation fund is more responsible and realistic than restarting the money market or continuing development. The team will remain online and will spare no effort in advancing asset recovery efforts.

ChainCatcher message, zkLend official stated on platform X: "Last night, the attacker of zkLend attempted to use Tornado Cash to mix 2,930 ETH of stolen funds and interacted with a known Tornado Cash phishing site, resulting in the funds being transferred to another party. This phishing site appears to have been operating for over 5 years.Currently, the security team has no conclusive evidence linking the phishing site to the attacker. As a precaution, we have included the new wallet addresses from the phishing site in our fund tracking efforts. Since last night, there has been a significant flow of funds from the wallet addresses controlled by the attacker. The security team and the zkLend team have been monitoring in real-time and are in contact with cryptocurrency exchanges (CEX) and relevant authorities. We will continue to work on tracking these funds."

ChainCatcher news, according to monitoring by SlowMist founder Yu Xian, after the zkLend hacker accidentally clicked on a phishing website, resulting in the theft of 2930 ETH in illicit funds, the hacker sent an on-chain message to zkLend stating, "Hello, I intended to transfer the funds to Tornado Cash, but I mistakenly used a phishing website, and as a result, all the funds are lost. I am devastated. I deeply apologize for the chaos and loss caused. All 2930 ETH has been taken by the operators of that website. I no longer have any coins left. Please direct your efforts towards those website operators to see if any funds can be recovered.This is my last message; perhaps ending this is the best choice. Again, I apologize."Previous news, according to monitoring by SlowMist Chief Information Security Officer @im23pds, the zkLend hacker (the original incident occurred in February) accidentally clicked on a phishing website while attempting to use Tornado Cash, resulting in the theft of 2930 ETH in illicit funds by that phishing website.

ChainCatcher message, the lending protocol zkLend on the Starknet chain stated on the X platform: "The asset recovery portal is now live, please stay vigilant------always interact with official channels and verify communications through verified social media." According to its previous introduction, users can directly access their claims through this portal by connecting the affected wallet.Earlier news reported that zkLend suffered an attack starting from February 11, resulting in a loss of approximately $9.6 million.

ChainCatcher message, zkLend announced a compensation plan. Deposits in unaffected pools are expected to receive full refunds, while deposits in affected pools will receive partial refunds and zkLend will restore the claims positions of the pools, with the withdrawal process expected to begin within 2 weeks after the review of the claims portal.Repayments will be fully covered by the available liquidity in each unaffected pool. If there is a shortfall in any unaffected pool (due to relatively high utilization), the remaining liquidity from other unaffected pools will be used to cover the shortfall. All accumulated surpluses from unaffected funds will be liquidated and proportionally distributed to each affected fund, with partial repayments being made based on the remaining liquidity of each fund plus such redistributed (socialized) surpluses proportionally.zkLend stated that after team contributions, the total funding gap has been reduced to approximately $9,013,101.72323417.

ChainCatcher message, zkLend has released a post-incident analysis of the security event on platform X, which indicates that zkLend was attacked starting from February 11, resulting in a loss of approximately $9.6 million:Before considering restarting the protocol, the security team and auditors will deploy security patches and conduct a thorough review.Continue to collaborate with zeroShadow to trace further fund flows.Regularly provide the community with transparent updates, informing them of the progress of the situation and the measures taken to protect user funds.Subsequently, collect community suggestions and feedback to formulate a fair and appropriate compensation plan.

ChainCatcher news, according to the official announcement from zkLend, since the hacker did not contact the project team before the deadline, the zkLend team has submitted an incident report to the Hong Kong police, FBI, and Department of Homeland Security and initiated an investigation.The investigation shows that the hacker is related to attacks on other DeFi protocols that occurred previously. The project team has monitored the flow of funds and identified multiple related wallet addresses, and the relevant information has been submitted to centralized exchanges. zkLend will announce the fund recovery and release plan next week, while the security team is preparing a post-incident analysis report.Previously, it was reported that zkLend was attacked by hackers, and the team issued an announcement through the ZEND token deployer account, proposing that the hacker could keep 10% of the funds as a white hat reward.

ChainCatcher news, Slow Mist founder Cosine posted on X confirming that the hacker who attacked zkLend is the same as the hacker who attacked EraLend in July 2023.

ChainCatcher news reports that according to Yu Xian, the founder of Slow Mist, the lending protocol zkLend on the Starknet chain was hacked on February 12, resulting in losses exceeding $9.5 million. The reason for the attack lies in the safeMath library used by its market contract, which employs direct division for calculations. This led to a rounding error in the actual number of zTokens that needed to be burned during withdrawals, which the attacker exploited for profit.On-chain data shows that the attacker's address has an active history of 235 days and has interaction records with multiple platforms, including Binance. The hacker has since transferred the stolen funds across chains, with most of it moved to the Ethereum network. Yu Xian stated that by tracking the associated Starknet addresses, it was discovered that this attacker is linked to the hacking incident of EraLend on July 25, 2023.

ChainCatcher message, StarkWare posted on the X platform stating that the dApp zkLend built on Starknet was attacked by hackers. The StarkWare team immediately initiated a coordinated response and took the following steps:Alerted the zkLend team to suspicious activities.Worked closely with cybersecurity firms to investigate the incident.Confirmed that the vulnerability does not involve a flaw in Starknet's core technology, but rather an irreparable application-specific issue.

ChainCatcher message, regarding today's zkLend theft of over 9 million dollars, SlowMist released an analysis stating that the core reason for this attack lies in the safeMath library used in the market contract. During division calculations, direct division was used, resulting in a rounding vulnerability when calculating the actual amount of zToken that needs to be burned during withdrawals. Attackers may exploit this vulnerability to gain illegal benefits.Users are advised to closely monitor their asset status on zkLend and temporarily halt any deposit actions related to zkLend to avoid potential losses.

ChainCatcher message, Slow Mist Yu Sen posted on platform X stating that hackers have cross-chain transferred the stolen funds from zkLend on the Starknet network to other networks, with most of the funds flowing to the Ethereum network.

ChainCatcher news, according to Cyvers Alerts monitoring, the lending protocol zkLend suffered a vulnerability attack on the Starknet network, resulting in a loss of $4.9 million. The attacker attempted to transfer the stolen funds across chains to Ethereum and launder them through the privacy protocol Railgun, but due to Railgun's policy restrictions, the funds were forcibly returned to the original address.In previous news, zkLend has offered a 10% white hat hacker bounty to the attacker through on-chain messages, and the related transaction has been confirmed on the Ethereum blockchain.

ChainCatcher message, zkLend suffered a hacker attack this morning. The team issued an announcement through the ZEND token deployer account, proposing that the hacker may keep 10% of the funds as a white hat reward, but must return the remaining 3,300 ETH to a designated address by February 14 at 00:00 (UTC). zkLend promises that once the transfer is received, all liabilities of the hacker in this attack will be waived.Earlier news stated that zkLend reported a security incident and has urgently suspended the withdrawal function, urging users to pause deposit and repayment operations.

ChainCatcher message, according to the official announcement from zkLend, the protocol is currently experiencing a security incident. The team is investigating the specific reasons and has suspended withdrawals. The official call to users is to refrain from making deposits or repayments until further notice.

ChainCatcher message, zkLend announced on social media that it has integrated the price feed service of the oracle service Chainlink, which will cover the prices of USDC, USDT, BTC, ETH, wstETH, STRK, and DAI on zkLend.

ChainCatcher message, zkLend posted on platform X stating that the team has noticed a few community users interacting with malicious websites and contracts, resulting in fund losses. Please be aware that if a wallet is connected to the related malicious contracts, users may unknowingly grant multiple permissions to scammers, including allowing scammers to transfer tokens from the user's wallet to their own. Please stay vigilant and only rely on official links.Previous news, the Starknet ecosystem lending protocol zkLend posted on platform X stating that they have received reports of suspicious tokens appearing in user wallets.Please note that zkLend only offers rewards in the form of STRK (DeFi Spring) and ZEND (ZEND Deposit). Rewards will not be sent directly to users' wallets and can only be claimed at app.zklend.com/rewards.Users should remain safe and vigilant, and if any suspicious behavior is noticed, please report it immediately.

ChainCatcher message, the Starknet ecosystem lending protocol zkLend posted on platform X stating that it has received reports about suspicious tokens appearing in user wallets.Please note that zkLend only offers rewards in the form of STRK (DeFi Spring) and ZEND (ZEND Deposit). Rewards will not be sent directly to users' wallets and can only be claimed at app.zklend.com/rewards.Users should stay safe and vigilant; if any suspicious behavior is noticed, please report it immediately.