zkLend, a decentralized money lending protocol built on the Starknet network, has suffered a significant exploit, losing approximately $4.9 million. The incident occurred on February 12th, 2025, and involved the exploitation of a vulnerability within the protocol.
🚨ALERT🚨@zkLend has suffered a $4.9M exploit on the Starknet network. Stolen funds were bridged to #Ethereum and laundered via #Railgun, but due to protocol policies, the funds were returned to the original address by #Railgun!
Deposit to #Railgun:… https://t.co/0muIH2U8hw— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) February 12, 2025
Following the exploit, zkLend has taken immediate action to mitigate the damage and protect its users. The protocol has temporarily paused all lending and borrowing activities to conduct a thorough investigation and implement necessary security measures.
In an unprecedented move, zkLend has offered the hacker a 10% bounty on the stolen funds if they return the remaining 90% before February 14th, 2025. This move signifies a unique approach to handling the situation, aiming to recover the majority of the stolen funds while potentially minimizing further losses for the protocol and its users.
