The Zklend protocol closes

The L2 -Protocol team Zklend on the basis of Starknet announced the completion of the work. The reasons were hacking and divisting LEND token from large exchanges.

Dear Zklend Community,

It is with a heavy heart that we announce our decision to Wind Down Zklend.

This decision was not made Lightly. Over Recent Months, The Exploit We Suffered Has Deeply Eroeded User Confidence, and Furthermore, The Recent Removal of Zend from Major Exchange …

– Zklend (@zklend) June 25, 2025

In February, the project collided with a hacker attack, which lost ~ 3666 ETH ($ 9.6 million at the time of the incident). The team offered the hacker a reward of 10% for the return of assets, but the attacker announced the loss of 2930 ETH on the fisch site.

The project uses the remaining reserves in the treasury ($ 200,000) to support injured users who have not yet received compensation. In total, $ 400,000 was allocated for these purposes.

Representatives of Zklend considered such a step “more responsible and significant use of resources than restarting cash markets and continuing development”.

The protocol team will leave the compensation portal active, The Defi Spring service and the KSTRK stake platform for displaying assets.

The project also continues to cooperate with Zeroshadow, which help to track and restore the stolen funds. Potentially returned coins will be sent to the recovery fund.

For interested third -party Zklend commands, the source code of the protocol updated after the attack was opened.

In May, the Alpaca Finance Defi platform, which previously held a leading position in the BNB Chan ecosystem, announced a complete termination of activity by December 2025.

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