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zkSync's $ZK Airdrop: 695K Wallets Fed, But April Hack Exposed Hidden Risks
The Big Picture
zkSync distributed 17.5% of its token supply (3.675 billion $ZK) to early adopters in 2024, but a nasty April 2025 security breach reminded everyone: even “isolated” exploits hit hard.
Who Got In?
Not everyone. The protocol set real barriers:
Result: 695,232 wallets qualified. Claim window ran June 2024 → January 2025.
Then April 2025 Happened
A compromised admin key let attackers mint ~111 million unclaimed tokens ($5M value) via the sweepUnclaimed() function.
The silver lining: Only airdrop contracts were hit—main protocol and user funds stayed safe.
Market’s take: 15-20% price dump as traders priced in governance risk.
What This Tells Us
Layer 2 tokens are still high-risk plays. Even “isolated” breaches spook markets hard. The hack exposed a timing trap too—if you didn’t claim before the breach, your tokens were on the line.
zkSync’s pushing enhanced security now, but the real lesson: airdrop mechanics need multi-sig guardrails and faster emergency response protocols. This one learned the hard way.