Zipcoin will shut down and sell remaining holdings to counter attacks, with ZC dropping over 89% in the past 24 hours Foresight News reports that Zipcoin has announced the closure of its project. The team stated that on October 21st, they received a notification from Railway that the entire code repository of the project had been hacked, including relevant credentials and private keys. The attacker had access to the keys that controlled the project wallet and infrastructure. After attempting to migrate or rotate credentials, the team has yet to find a feasible security operation solution. Zipcoin stated that currently accessible wallets hold 2.2% of the total supply of tokens and will provide a six hour selling window for existing holders. The remaining holdings will be sold and funds will be collected at 00:00 Beijing time on October 23 to prevent attackers from transferring assets. The team also stated that the project was previously affected by the UNCX security incident on October 15th. \According to GMGN market data, zipcoin (ZC) has fallen 89.42% in the past 24 hours, with a current market value of only $280000. ZC was inspired by Vitalik's open-source science fiction novel 'Snowmoon'. The currency name of the fictional country Veridia is zipcoin.