ZKsync / Matter Labs
Matter Labs is a software development company founded in December 2018 by Alex Gluchowski and Alexandr Vlasov. It builds ZKsync, an Ethereum layer 2 scaling protocol that uses zero knowledge (zk) rollup technology to process transactions off the main Ethereum chain and reduce fees. The company has raised about 200 million dollars from investors and reserved a large share of future token supply for its ecosystem. In June 2024 it launched the ZK governance token through an airdrop of 3.6 billion tokens, about 17.5 percent of a 21 billion total supply, to roughly 695,000 wallets, described at the time as the largest layer 2 airdrop. In April 2025 the airdrop distribution contracts were exploited through a compromised administrative key, minting about 111 million previously unclaimed tokens wo
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A compromised administrative key was used to mint about 111 million unclaimed ZK tokens worth roughly 5 million dollars, pressuring the token price.