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zkLend announces closure of services
Summary: zkLend announced on X platform that it will be closing its services, citing serious damage to user confidence due to recent vulnerabilities. Additionally, mainstream exchanges like Bybit and KuCoin have delisted ZEND, further restricting the token's liquidity and accessibility, severely limiting the ability to effectively allocate new projects. In light of these circumstances, zkLend will ...
zkLend announced on X platform that it will be closing its services, citing serious damage to user confidence due to recent vulnerabilities. Additionally, mainstream exchanges like Bybit and KuCoin have delisted ZEND, further restricting the token's liquidity and accessibility, severely limiting the ability to effectively allocate new projects. In light of these circumstances, zkLend will use the remaining treasury funds ($200,000) to support affected users through a recovery fund, viewing it as a more responsible and meaningful use of resources than restarting the currency market and continuing development. To support our community during this process: DeFi Spring, Recovery, and kSTRK portals will remain active for users to access and withdraw their staked assets. We will continue to collaborate with zeroShadow to utilize their expertise in tracking lost funds, with any recovered funds going directly towards the user recovery fund. We will also open-source the audited and updated codebase for further development by interested parties, with the release scheduled in the coming weeks.
