Source: Cointelegraph
Original: “ZKsync X Hacker Spreads False SEC Investigation News, Suspected Intent to Crash the Market”
The Ethereum (ETH) Layer 2 network ZKsync and its developer Matter Labs' X account were hacked on May 13, with the hacker falsely claiming that the network was under investigation by U.S. authorities and posting multiple fraudulent messages.
A ZKsync-related X account confirmed on May 13 that the accounts of ZKsync and Matter Labs had been compromised, warning users not to click on the fake airdrop links shared by these accounts, as this was clearly a phishing scam.
The hacked ZKsync and Matter Labs accounts subsequently posted a false statement claiming that ZKsync was under investigation by the U.S. Securities and Exchange Commission (SEC) and that the U.S. Treasury might impose sanctions on the platform.
Matter Labs' communications director Lynnette Nolan confirmed to Cointelegraph that the now-deleted X posts were "not true," and that both accounts have now "fully regained team control."
Harrison Leggio, co-founder of the crypto startup g8keep (online alias "Pop Punk"), posted on X: "Kudos to the ZKsync hackers. They didn't issue tokens to scam a few bucks, but chose to scare on-chain participants."
This false statement seems aimed at suppressing the price of the platform's namesake token ZKsync (ZK). According to CoinGecko data, the price of ZK dropped by about 2% within an hour after the X account was hacked.
The SEC has previously investigated several crypto companies, many of which chose to publicly disclose when they were under investigation by regulators.
Under the Trump administration, the SEC terminated several investigations, with companies like Crypto.com, Immutable, OpenSea, and RobinHood Crypto confirming that the agency had concluded its investigations into them.
The ZK token has dropped 6.4% in the past 24 hours, currently trading at around 7 cents, a significant pullback from last week's nearly 38.5% increase.
Nolan from Matter Labs stated that the company is investigating how the X account was hacked and believes it may have been through "compromised authorized accounts," which allow users limited access to the X account, enabling them to post content on behalf of the account.
This is the second time since April that the platform controlled by ZKsync has been hacked.
On April 15, an attacker compromised the administrator account of the ZKsync airdrop distribution contract and used a function to mint 111 million unclaimed ZK tokens, which were worth about $5 million at the time.
This hack occurred during the period when the platform was distributing 17.5% of the ZK supply to ecosystem participants.
The attacker later returned 90% of the stolen tokens, agreeing to keep 10% as a bounty.
Related: Top TRUMP whale holds $174 million in tokens and will dine with the U.S. President.
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