Odaily Planet Daily reports: Vitalik’s fictional narrative meme coin project, Zipcoin, has announced its closure. The team stated that on October 15, the project was affected by the UNCX incident, during which hackers drained 1.1% of the total supply of tokens including PEPECOIN, EDGEN, ZC, X, LO0P, and PAAL on Ethereum. The stolen tokens were subsequently sold on open markets. At the time, the team chose not to publicly disclose the incident and instead repurchased the tokens on open markets to cover the shortfall of tokens originally intended for future team commitments.
The team also stated that after lunch yesterday, they received a notification from Railway that the entire codebase of the project had been compromised, including all associated keys and private keys, potentially allowing attackers to gain control of the project’s wallet and infrastructure. After attempting to migrate or rotate credentials for approximately 12 hours, no viable secure operational solution was found. Since the associated wallet still holds tokens representing approximately 2.2% of the total supply, the team will provide holders with a 6-hour selling window and plans to sell the remaining holdings and consolidate funds from the associated wallet at 12:00 Eastern Time on October 22, 2023, to reduce the risk of assets being transferred by attackers.