zkLend Hack on Starknet: $9.5M Stolen, 10% Whitehat Reward Offered

By / / Crypto News, Daily News
zkLend Hack on Starknet: $9.5M Stolen, 10% Whitehat Reward Offered
Table Of Contents
  1. What Happened?
  2. Security Concerns in the Crypto World
  3. What Makes zkLend Stand Out?
  4. Will the Hacker Return the Funds?
  5. Final Thoughts

On the Starknet network, zkLend, a DeFi lending protocol, suffered a major hack on February 12, 2025, leading to a loss of $9.5 million worth of Ethereum (~3,300 ETH, based on current prices). The stolen funds were moved to Ethereum and laundered using Railgun; however, Railgun returned the stolen assets to the original address as per its protocol policies, according to Cyvers, a blockchain security firm.

What Happened?

The attack on zkLend has shaken the crypto community. Following the breach, zkLend made an offer to the hacker, stating that they would reward them with 10% of the stolen assets if they return 90% of the funds—equivalent to $8.6 million (approximately 3,300 ETH)—by 00:00 UTC on February 14, 2025.

  • If the hacker returns the funds before the deadline, they get to keep 10% as a whitehat bounty.
  • If the hacker fails to return the funds, zkLend will pursue legal action, working with security firms and law enforcement to track and prosecute the attacker.

Security Concerns in the Crypto World

This exploit underscores ongoing security challenges in DeFi and blockchain. Despite a 44% decline in crypto hacks compared to 2024, over $73 million was stolen in January 2025 alone.

  • In 2024, $2.3 billion was lost in crypto exploits, marking a significant rise from 2023.
  • Recent incidents, such as the UFC Instagram hack used to promote a fake meme coin, highlight the growing risks in the space.

What Makes zkLend Stand Out?

zkLend operates on Starknet, allowing users to lend and borrow crypto in a decentralized manner. However, this attack has raised serious questions about security in DeFi protocols.

  • zkLend is actively collaborating with security teams, including the Starknet Foundation and Binance Security, to track the stolen funds and identify the hacker.

Will the Hacker Return the Funds?

The big question remains: Will the hacker accept the whitehat bounty and return the stolen Ethereum?

  • In May 2024, a mysterious $71 million return by an unknown hacker sparked similar discussions.
  • The crypto community is closely watching to see if history will repeat itself or if the hacker will keep the stolen assets.

Final Thoughts

Following the breach, zkLend made an offer to the hacker, stating that they would reward them with 10% of the stolen assets if they return 90% of the funds—equivalent to $8.6 million (approximately 3,300 ETH)—by 00:00 UTC on February 14, 2025.

The zkLend hack on Starknet is a stark reminder of security vulnerabilities in the DeFi space. As investigations continue, it’s evident that stronger security measures and collaboration with blockchain security firms are more crucial than ever. The fate of the stolen funds—and zkLend’s next steps—will be closely watched in the coming days.

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