Zilliqa CEO Resigns Amid Ongoing Security Investigation
Written with artificial intelligence.
Zilliqa has announced that its investigation into a recent security incident is still ongoing with an external cybersecurity firm, following the resignation of CEO Alexander Zahnd. The affected liquidity pools use the X-Bridge and ZRC2 proxy contracts, while the core ZIL and Zilliqa EVM network remain secure.
Zilliqa's Security Incident Update
On October 28, Zilliqa provided an update regarding a recent security incident, confirming that they are still working with an external cybersecurity firm for an investigation. The affected components include certain liquidity pools utilizing the X-Bridge and ZRC2 proxy contracts, specifically impacting tokens such as zUSDT, SEED, kUSD, and Zoge. Importantly, the native ZIL and Zilliqa EVM network have not been compromised.
Current Actions and Recommendations
As a precaution, Zilliqa has paused the X-Bridge and is advising users to refrain from using the X-Bridge or any affected liquidity pools. In addition, the company is rotating all operational keys and is collaborating with exchanges and law enforcement agencies to ensure security.
Leadership Changes
The resignation of CEO Alexander Zahnd has led to the board taking direct oversight of the situation, supported by an external consulting firm specializing in cybersecurity and governance until a permanent leadership is appointed. Zilliqa emphasizes that its primary focus remains on user fund security and maintaining transparency throughout this process, with updates to be shared with strategic partners including Ltin Li and Telegram Liechtenstein.