Key facts
- Zilliqa has asked exchanges to temporarily halt ZIL deposits and withdrawals.
- The request follows a suspected compromise of a cold wallet belonging to an exchange partner.
- The amount of ZIL stolen has not yet been disclosed.
- The specific exchange partner involved has not been identified.
- Zilliqa is currently investigating the incident.
Zilliqa, a layer-1 blockchain network launched in 2017 and known for its sharding technology, has requested cryptocurrency exchanges to pause all ZIL deposits and withdrawals. This precautionary measure comes after a suspected compromise of a cold wallet associated with an exchange partner, leading to the theft of ZIL tokens. The exact amount stolen and the identity of the affected exchange partner have not yet been disclosed by Zilliqa, which has stated it is actively investigating the incident. Zilliqa's native token, ZIL, is used for transaction fees and smart contracts on the network. At the time of reporting, ZIL was trading at approximately $0.0025, marking a 7.1% decrease over the preceding 24 hours.