Decentralized lending protocol zkLend has launched its Recovery Portal to allow users who were affected by the platform's February 12 exploit to claim their lost funds. The hack resulted in a loss of $9.6 million from zkLend's pools, prompting the platform to halt withdrawals and investigate the breach. The stolen funds were bridged to the Ethereum network and the hacker attempted to launder them through Railgun. However, the assets were eventually returned to the hacker's original address due to Railgun's internal policies. zkLend attempted to negotiate with the hacker but was unsuccessful in retrieving the remaining funds. To track down the stolen funds, zkLend has enlisted the help of law enforcement and experts from Binance Security, StarkWare, and the Starknet Foundation. The Recovery Portal offers affected users partial compensation and a claim position in zkLend's recovery pool. The hack highlights security issues within the DeFi industry, and zkLend's management of the exploit will be closely observed as the platform seeks to regain trust.



Other News from Today