ZetaChain Pauses Mainnet After Hack Hits Team Wallets

Layer-1 network ZetaChain said it was hacked on Monday. But the project claimed the attack only affected its own internal team wallets and did not hit user funds. 

The network paused cross-chain transactions while the team investigated the incident. This is the second cross-chain exploit in April, after the earlier KelpDAO hack.

The team said it had already blocked the attack vector and would release a full post-mortem after completing its investigation.

Sponsored
Sponsored

ZetaChain’s status page showed mainnet cross-chain transactions paused as a precaution. 

The incident was marked as identified and ongoing for around six hours, with the status page noting that the team had identified the attack vector and was preparing a patch.

ZetaChain Network Status

The ZETA token also traded lower during the incident. CoinGecko data shown in the attached chart placed ZETA near $0.054, down about 4.8% over 24 hours. Its 24-hour range was between roughly $0.053 and $0.059.

ZETA Daily Price Chart. Source: CoinGecko

Community reaction was mixed. Some users praised the public disclosure, while others raised concerns about cross-chain attack surfaces after recent incidents involving interoperability infrastructure.


To read the latest cryptocurrency market analysis from BeInCrypto, click here.

Disclaimer

BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Sponsored
Sponsored