Starknet-based zkLend shuts down following exploit and ZEND token delisting from main exchanges

Explore insights within the Web3 area. This article dives into: “Starknet-based zkLend shuts down following exploit and ZEND token delisting from major exchanges”.

Key Takeaways

• zkLend is shutting down after a safety exploit and the ZEND token’s delisting from Bybit and KuCoin.
• The protocol will use its remaining $200,000 treasury to assist affected customers and is open-sourcing its codebase.

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zkLend, a decentralized lending protocol constructed on Starknet, has introduced it can stop operations within the wake of a February 2025 exploit that led to the lack of practically $10 million and the delisting of its ZEND token from main crypto exchanges.

The protocol will allocate its remaining treasury of $200,000 towards a restoration fund to assist affected customers reasonably than relaunching its cash markets and persevering with growth.

The protocol will preserve its DeFi Spring, restoration, and kSTRK portal for customers to unstake or declare funds. The crew continues to work with zeroShadow to trace down misplaced funds, with any recoveries to be directed to the person restoration fund.

zkLend additionally plans to open-source its audited and up to date codebase within the coming weeks for events to proceed growth.

“We will continue to remain online and committed to the recovery of stolen funds through any means necessary,” the crew acknowledged. “We have been proud to be part of Starknet’s journey from its early beginnings and to witness its growth and evolution firsthand.”

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