Zipcoin Halts Operations Following Full Codebase and Private Key Leak

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Zipcoin has suspended operations following a full codebase and private key leak, according to MarsBit. Attackers may have gained control of its wallets and infrastructure. Over the past 12 hours, the team attempted to migrate the code and rotate credentials but found no viable solution. On October 15, the project was impacted by the UNCX incident, during which hackers stole 1.1% of ZC, PAAL, and EDGEN. These tokens are now among the altcoins to monitor as the Fear & Greed Index remains volatile. The team had previously attempted to offset losses through market repurchases.

Huo Xing Cai Jing reports that Zipcoin has announced the cessation of its operations, stating that its project codebase and associated keys were fully compromised, allowing attackers to potentially gain control over the project’s wallets and infrastructure. The team said it attempted to migrate the code and rotate credentials within the past 12 hours but was unable to identify a viable security solution. Zipcoin also disclosed that the project was affected by the UNCX incident on October 15, during which hackers stole approximately 1.1% of the supply of multiple Ethereum tokens, including ZC, PAAL, and EDGEN, and sold them on open markets. The team subsequently repurchased tokens on the market to cover the shortfall corresponding to future team commitments.

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