Urgent Call from Altcoin to All Exchanges: Even the Safest Wallet Breached, Halt Transactions

Zilliqa has issued an urgent call to all exchanges to halt transactions, announcing that ZIL tokens were stolen from an exchange partner’s cold wallet.

While security breaches in the cryptocurrency world typically occur through internet-connected hot wallets, a rare and concerning incident has taken place this time. The Zilliqa (ZIL) team announced to the public via official channels that assets were stolen from an exchange partner’s cold wallet—considered the most secure storage method and one that has no connection to the internet.

Although this security vulnerability does not directly affect the general operation of the network, it created a major risk in terms of protecting assets on the exchange side. Zilliqa officials stated that they are conducting an active investigation with relevant parties to determine the root cause and full scope of the incident. A critical step was taken to prevent the stolen funds from being liquidated through centralized platforms or moved to other addresses.

Call to Exchanges to Halt ZIL Transactions

As a precautionary measure, the team notified all cryptocurrency exchanges and requested the temporary suspension of ZIL deposits and withdrawals. This move aims to prevent the attacker from offloading the assets into the market. The decisive stance of the network—a pioneer of sharding technology that launched in 2017 to increase speed by partitioning data—is being closely followed by other stakeholders in the ecosystem.

Currently, no official statement has been made regarding the name of the exchange affected by the security breach or the total amount of ZIL stolen. While the investigation process continues meticulously, it was emphasized that the community should only trust verified information coming from official channels. The fact that even cold wallets can be targeted is considered a serious enough development to cause a re-evaluation of security standards in the industry.