The ZK token quickly dropped around 20% in price, likely as a result of the thief trying to sell the tokens.
$5 million in tokens stolen from ZKsync
An attacker compromised an admin account belonging to the ZKsync Ethereum layer-2 project, which is built by Matter Labs. By doing so, they were able to steal approximately $5 million worth of the ZK token, which the project said were "the remaining unclaimed tokens from the ZKsync airdrop".
KiloEx exploited for $7.5 million
KiloEx, a decentralized perpetual futures exchange, was exploited for $7 million. An attacker executed an oracle manipulation attack on KiloEx's pricing smart contracts to steal funds across the Base Ethereum layer-2 chain, BNB Chain, and Taiko.
KiloEx halted trading on the platform while investigating the exploit, and contacted the hacker to try to negotiate a 90% return of funds.
Mantra token price suddenly collapses by 90%
Mantra's $OM token price suddenly crashed by around 90%, with the project's supposed "market cap" shrinking by around $5 billion in the span of hours. Mantra is a layer-1 blockchain project aiming to support real-world asset trading.
Some have accused Mantra of rug-pulling or accused Mantra investors like Laser Digital of mass sell-offs. However, Mantra claims that the flash crash was due to "reckless forced closures initiated by centralized exchanges on OM account holders" — a claim that has been questioned by those observing the rapidity of the crash.
FDUSD depegs
The stablecoin issued by First Digital, FDUSD, has lost its $1 peg and sunk as low as $0.76 before returning to around $0.97 — which, in stablecoin world, is still a substantial de-peg. The drop followed concerns about First Digital's reserves amid reports that some of the assets used to back the stablecoin were trapped in investments that couldn't be liquidated.
The rumor has been amplified by Tron founder Justin Sun, who tweeted: "First Digital Trust (FDT) is effectively insolvent and unable to fulfill client fund redemptions. I strongly recommend that users take immediate action to secure their assets." First Digital responded by insisting they were solvent, and denounced Sun's comments as "a typical Justin Sun smear campaign to try to attack a competitor to his business".
zkLend thief gets robbed
The zkLend lending platform was hoping they could secure the return of stolen funds from the attacker who stole 3,667 ETH (~$9.5 million at the time) from the platform in mid-February. They offered a 10% "bounty" for the return of the funds, but received no reply — that is, until now.
On March 31, the attacker sent an on-chain message to the platform, writing: "Hello I tried to move funds to tornado but I used a phishing website and all the funds have been lost. I am devastated. I am terribly sorry for all the havoc and losses caused. All the 2930 eth have been taken by that site owners. I do not have coins. Please redirect your efforts towards those site owners to see if you can recover some of the money. I am sorry."
The zkLend project instructed the thief to return any remaining funds to their wallets, though no such transfer has happened yet.
There has been substantial conversation over whether the hacker had truly been in turn scammed out of the stolen funds, had made up a fake phishing site to try to obscure the path of stolen money, or perhaps whether the whole event had been an April Fools' joke. However, zkLend noted on Twitter that the phishing website, which imitates the Tornado Cash platform, has been operational for five years and is likely not connected to the hacker.
- On-chain messages between zkLend and thief
- Tweet by zkLend [archive]
ICERAID crypto project claims to pay people to report immigrants and "terrorist" judges to law enforcement
A project called "ICERAID" has emerged, promising to reward "intelligence gathering" on "suspicious activities" by photographing supposedly criminal behavior by undocumented immigrants to law enforcement. The project has been advertised by right wing personalities including Laura Loomer and Matt Gaetz, the latter of whom promised ICERAID lets people "ping the cops faster than you can say 'sanctuary city'."
An instructional video posted to social media by the platform encourages people to "do [their] patriotic duty" by going to a District Court in a blue state, then "Secretly snap a photo of the judge. Don't let the bailiff see you." The video shows a person uploading a photograph of Judge James Boasberg, who is presiding over the Trump administration deportation flights case, and reporting him for "terrorism".
The project has been likened to Stasi programs in which citizens were paid to spy and report on their neighbors.
The founder of ICERAID, Jason Meyers, claims that he had had conversations with the White House about the project, although the website for the tool states it is not affiliated with any government agency and is not a website of the US government. Meyers has faced several enforcement actions resulting in disciplinary penalties over his involvement in security sales, and in 2014 was permanently banned by FINRA from broker-dealer activities after misappropriating investor funds. Meanwhile, multiple users have complained about not receiving their promised ICERAID tokens, and the project reportedly changed its terms after the token presale to reduce the amount of money buyers would earn for participating.