Catenaa, Sunday, April 20, 2025-ZKsync disclosed a $5 million theft tied to a compromised administrative account overseeing its airdrop contract, while Bitcoin showed resilience amid global macro uncertainty.
The Ethereum Layer 2 scaling project said the attacker took control of unclaimed airdrop tokens, triggering a 20% drop in ZK’s token price. ZKsync stressed that no user funds were affected and promised a detailed report following its internal investigation.
The hack compounds past criticism of ZKsync’s 2024 airdrop, which drew scrutiny over token distribution fairness and insufficient protection against Sybil attacks.
In contrast, Bitcoin continued to trade above $80,000, with Bitwise CIO Matt Hougan highlighting the digital asset’s atypical stability during recent market volatility. “This time, I think it stands a chance,” he said, suggesting Bitcoin could outperform equities if macroeconomic pressures ease.
Elsewhere, Canada is poised to launch the first spot Solana ETFs this week, according to a TD Bank memo. Managed by four firms including Purpose and 3iQ, the ETFs will offer staking features, a potential edge over Ethereum products.
Treehouse Finance, a DeFi fixed-income platform, raised fresh capital at a $400 million valuation. The unnamed lead investor is reportedly tied to MassMutual Ventures, which had also supported Treehouse’s seed round.
Meanwhile, Swedish lawmakers are urging the nation to consider Bitcoin as a reserve asset, citing President Trump’s proposal for a U.S. Strategic Bitcoin Reserve. UK and Eurozone inflation data, Powell’s remarks, and upcoming token unlocks round out a pivotal 24 hours for markets.
