ZKsync Confirms a Security Breach Where a Compromised Admin Account Led to the Theft of $5 Million in ZK Tokens

On April 15, 2025, ZKsync, an Ethereum Layer-2 scaling solution, confirmed a security breach where a compromised admin account led to the theft of approximately $5 million in unclaimed ZK tokens from its June 2024 airdrop.

On April 15, 2025, ZKsync, an Ethereum Layer-2 scaling solution, disclosed a security breach where a compromised admin account led to the theft of approximately $5 million in unclaimed ZK tokens from its June 2024 airdrop. The attacker exploited the sweepUnclaimed() function in three airdrop distribution contracts, minting 111 million ZK tokens, which increased the circulating supply by 0.45%.

The compromised account was identified as wallet address 0x842822c797049269A3c29464221995C56da5587D. ZKsync emphasized that the breach was isolated to the airdrop contracts, with no impact on user funds, the core protocol, ZK token contract, or governance systems. The team is conducting a full investigation, collaborating with cybersecurity experts and exchanges for recovery efforts, and has urged the attacker to negotiate to avoid legal consequences. The incident caused a sharp 20% drop in ZK token price, later recovering slightly to around $0.046.

Charles Schwab, a leading U.S. brokerage managing over $10 trillion in assets, plans to launch spot cryptocurrency trading by April 2026, as announced by CEO Rick Wurster during the company’s 2025 Spring Business Update. The move will allow clients to directly buy and sell cryptocurrencies like Bitcoin and Ethereum through their Schwab accounts, marking a significant shift for the firm, which currently offers crypto exposure through ETFs, futures, and closed-end funds.

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The decision is driven by a 400% surge in traffic to Schwab’s crypto-related web content, with 70% from non-clients, signaling strong public interest. Wurster highlighted an evolving U.S. regulatory environment as a key enabler, with anticipated clarity under new leadership potentially facilitating the launch. Schwab’s entry into spot crypto trading aims to meet rising client demand and compete with platforms like Coinbase, Fidelity, and Robinhood, which already offer similar services.

Russia’s Ministry of Finance and Central Bank are developing a cryptocurrency exchange targeting “super-qualified investors” as part of a three-year experimental legal regime (ELR) for cryptocurrencies, which began in April 2024. The exchange, announced by Finance Minister Anton Siluanov on April 23, 2025, is part of efforts to legalize and regulate crypto transactions for high-net-worth individuals, bringing mining and exchange operations “out of the shadows.”

Initially proposed requirements for “super-qualified investors” include assets of at least 100 million rubles ($1.2 million) or an annual income exceeding 50 million rubles ($600,000). These thresholds are not finalized and may be adjusted following discussions, as noted by Osman Kabaloev, Deputy Director of the Finance Ministry’s Financial Policy Department.

SOL Strategies, a Canadian investment firm focused on the Solana blockchain, has secured a $500 million convertible note facility from ATW Partners to acquire and stake SOL tokens, marking the largest financing of its kind in the Solana ecosystem. The capital will be used exclusively to purchase SOL tokens, which will be staked on validators operated by SOL Strategies, with staking yields (up to 85%) covering interest payments.

The deal includes an initial $20 million tranche, with up to $480 million available in future drawdowns, and aims to enhance network security and decentralization while positioning SOL Strategies as a leading institutional staking platform. The firm’s shares surged 25.3% following the announcement, reflecting market optimism. This move follows similar strategies by firms like Upexi and DeFi Development Corp, signaling growing institutional interest in Solana.

Jack Mallers, the CEO of Strike, has indeed launched Twenty One Capital, Inc., a Bitcoin-native company focused on acquiring and holding Bitcoin, with an initial treasury of over 42,000 BTC, valued at approximately $3.6 billion based on a Bitcoin spot price of $84,863.57 as of April 21, 2025. The company is backed by major players like Tether, SoftBank Group, and Bitfinex, and is set to go public via a SPAC merger with Cantor Equity Partners, trading under the ticker $XXI on Nasdaq.

Twenty One aims to maximize Bitcoin ownership per share,