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On April 15, the team behind the Ethereum scaling network, ZKsync, identified a compromised admin account that took control of $5 million worth of ZK tokens. These were the remaining unclaimed coins from the ZKsync airdrop, they added. The team reassured users that all their funds are safe and have never been at risk. “The ZKsync protocol and ZK token contract remained secure, and no further ZK is at risk,” they said. “This is an isolated incident caused by a compromised key and confined to the ZK Token airdrop contract.” ZKsync security team has identified a compromised admin account that took control of ~$5M worth of ZK tokens — the remaining unclaimed tokens from the ZKsync airdrop. Necessary security measures are being taken. All user funds are safe and have never been at risk. The ZKsync… — ZKsync (∎, ∆) (@zksync) April 15, 2025 $5 Million Stolen A short time later, the team posted an update stating that the account that was the admin of the three airdrop distribution contracts had been compromised. The attacker called a function that minted approximately 111 million unclaimed ZK tokens from the airdrop contracts. The transaction inflated the amount of tokens in circulation by around 0.45% of the total supply and caused a brief dip in spot prices. “This incident is contained to the airdrop distribution contracts only and all the funds that could be minted have been minted. No further exploits via this method are possible.” They noted that the hacker still held funds in an account that contained 44 million ZK tokens worth $2.1 million and around 2,200 ETH worth $3.4 million. When asked why the unclaimed airdrop tokens were left in the contract, co-founder and CEO of ZKsync, Alex Gluchowski, said, “The unminted supply was supposed to go back to the Token Assembly,” before adding, “We’re investigating why this didn’t happen.” “The attacker is facing criminal liability. It’s in their best interest to investigate the funds return ASAP,” he said. We’re actively investigating this incident and will publish the full update once the investigation and recovery efforts are complete. I am happy to take your questions here and will answer them to the best of my knowledge. https://t.co/yPgpNeQq5D — ALEX | ZK ∎ (@gluk64) April 15, 2025 ZKsync total value locked has tanked almost 80% since the beginning of February and was just over $60 million at the time of writing, according to DeFiLlama. In June 2024, the platform began airdropping 17.5% of the total supply of tokens, or 3.67 billion ZK. ZK Prices at ATL The zero-knowledge rollup platform’s native token, ZK, tanked 13% immediately after the hack in a fall to and all-time low of $0.0415. However, it quickly recovered almost all losses and was trading at $0.0472 at the time of writing. Nevertheless, ZK is trading at its lowest levels, having fallen 83% from a December high of $0.262 and its all-time high at the time of the airdrop of $0.321. The post Ethereum Layer-2 ZKsync Airdrop Account Hacked for $5M appeared first on CryptoPotato .
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US economist warns Bitcoin to spearhead the 2025 crash
Bitcoin ( BTC ) has been many things in its 16-year existence, with some claiming it to be little more than a gambling fad and yet others taking a completely opposite stance and positioning it as the biggest financial revolution in recent history. For the famed American finance writer and founder of HS Dent Investment Management, Harry Dent, it is the latter. Furthermore, the author went as far as to recommend everyone invest in the cryptocurrency as the great reshaper of global finance, albeit with a caveat, in a David Lin interview published on April 14. Specifically, Dent opined that BTC is far from a safe haven, meaning that in the burst phase he believes the ‘everything bubble’ is in in 2025, the digital asset should be avoided along with most other assets. Bitcoin should, however, be heavily invested in once the crash has taken hold. This is one of the biggest misconceptions: that Bitcoin Bitcoin and crypto are the safe haven. Absolutely not, they are the biggest bubble. Why Bitcoin is a ‘strong sell’ in 2025 but a ‘strong buy’ later Though Harry Dent’s prediction that a 50% crash would take place by the summer and then be followed by a 90% collapse is yet to be confirmed – and though there is room to doubt it as he has, along with in the interview, been predicting such a calamity for years – Bitcoin’s recent performance hasn’t been instilling much confidence. At press time on April 16, BTC was simultaneously expensive and struggling. At $83,396, it was 10.82% down in 2025, with a pattern of lower highs followed by lower lows, yet also more expensive than at any point in history before November 2024. BTC YTD price chart. Source: Finbold I didn’t get it at first, except I could see that Bitcoin was acting just like Amazon, the leader of the Dot retailers, which was the first tech bubble. I said it was acting just the same. I said, ‘No this is the next bubble, this is a big thing.’ Now I get it. A guy at my own conference three years ago says crypto and Bitcoin is basically, the restructuring of the entire financial services industry. How to weather the storm and thrive after it passes In the interview, Harry Dent also revealed which assets are the best to buy for the crash itself, reflecting primarily on 30-year treasuries and the iShares 20+ Year Treasury Bond ETF (NASDAQ: TLT ) and how to diversify for the recovery. Specifically, the famed finance author believes that cryptocurrency will be the great reshaper of finance, thus making Bitcoin a strong investment, while artificial intelligence ( AI ) will have a more transformative effect and automate the broad category of ‘middle management.’ I’ve been talking about AI. I used to call it the automation of professional and managerial work. We’ve already done that to clerical people, already done that to factory workers, already done that to farmers. If you go back, it is the professional classes that will be automated by AI, so AI and Bitcoin. He elaborated: So I say: two things I want to buy coming out of this is – if I just buy two things – I’d buy Bitcoin at the bottom and Nvidia: leader of the AI and Bitcoin leader of crypto. That’s what I’d buy if I’m right and we see the greatest crash in a long time. The phenomenon Dent is describing has long been described as the advanced stages of the ‘Second Machine Age’ and has long been expected to be negative for humans, if not for businesses. For his part, the writer recommended investing in the semiconductor giant Nvidia (NASDAQ: NVDA ) as a way to get ahead in the changing world. Featured image via Shutterstock The post US economist warns Bitcoin to spearhead the 2025 crash appeared first on Finbold . Crypto Potato
AB DAO and Bitget Launch Dual Reward Campaign, Distributing $2.6M Worth of $AB Globally
April 16th, 2025 – Singapore, Singapore Today, AB DAO officially announced the launch of a dual reward campaign in collaboration with Bitget ( bitget.com ), the world’s second-largest digital asset trading platform. In celebration of AB’s Token Generation Event (TGE), the campaign will distribute a total of 213,307,000 $AB, valued at approximately $2.6 million USD, to users worldwide—aiming to ignite participation and accelerate ecosystem activation. Campaign 1: PoolX Staking – Stake AB & BGB to Earn $AB Airdrops Staking Period: April 16, 2025, 10:00 – April 30, 2025, 10:00 (UTC+8) Total Airdrop Pool: 135,173,000 $AB Campaign 2: CandyBomb – Trade AB or BGB to Win $AB Airdrops Event Period: April 16, 2025, 10:00 – April 23, 2025, 10:00 (UTC+8) Total Airdrop Pool: 78,134,000 $AB Official Bitget Event Announcement: https://www.bitget.com/zh-CN/support/articles/12560603825693 In addition to this incentive campaign, AB DAO and Bitget will jointly execute a global co-marketing initiative, with a focus on key markets such as Southeast Asia, Europe, the Middle East, and North America. This partnership aims to expand AB’s visibility and presence across the global Web3 ecosystem. The initiative marks a key milestone in AB DAO’s global expansion strategy. Moving forward, AB DAO will continue to onboard new trading platforms and ecosystem partners, accelerating the development of an open, transparent, and inclusive Web3 infrastructure. AB DAO’s Mission: Empower 100 Million People Worldwide to Hold $AB About AB Charity Foundation AB Charity Foundation is dedicated to serving as a bridge between blockchain innovation and social welfare. We drive the development of the public chain ecosystem, establishing a transparent, efficient, and inclusive blockchain infrastructure to serve social good through technology. Official Website: https://ab.org Global Community Portal: https://www.ab.org/zh/community Contact AB DAO contact@ab.org This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility. Follow Us on X Facebook Telegram Check out the Latest Industry Announcements The post AB DAO and Bitget Launch Dual Reward Campaign, Distributing $2.6M Worth of $AB Globally appeared first on The Daily Hodl . Crypto Potato
