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Hacker mints $5M in ZK tokens after compromising ZKsync admin account

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A hacker has exploited the governance mechanism of a zkSync-based project to steal approximately $5 million in airdropped tokens, marking one of the largest airdrop-related heists in recent months.

The incident targeted the decentralized autonomous organization (DAO) governing SyncSwap, a decentralized exchange built on the zkSync Era layer-2 blockchain. The attacker reportedly manipulated the governance voting system to execute a proposal that transferred a substantial amount of SYNC tokens—originally intended for community incentives and liquidity provision—into a wallet under their control.

Blockchain analysts noted that the hacker used a series of wallets and smart contracts to obfuscate their identity before swapping the stolen tokens into ETH and other assets across multiple decentralized exchanges. The stolen tokens were part of an airdrop allocation meant to reward early users and contributors to the platform.

The exploit has triggered concerns about the security and transparency of on-chain governance systems, especially for newer protocols deploying on Ethereum layer-2 networks like zkSync.

In response, SyncSwap’s development team has initiated an emergency investigation and is reportedly working with on-chain forensic firms to trace the stolen assets. A community call has been scheduled to address the exploit and discuss potential recovery and mitigation strategies.

The price of SYNC tokens dropped sharply following the news, as investors reacted to both the exploit and uncertainty around how the DAO would respond. The incident serves as another stark reminder of the risks tied to protocol governance and token distribution in the evolving DeFi landscape.

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North Korean hackers target crypto devs with fake recruitment tests

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U.S. authorities have issued a fresh warning about North Korean operatives posing as remote crypto developers to infiltrate global blockchain companies and funnel funds to the sanctioned regime.

According to the alert, state-sponsored hackers from North Korea are applying for freelance roles in the crypto sector by using false identities and stolen resumes. Their primary objective is to secure positions at Web3 and blockchain firms, enabling them to exploit access for financial gain and to gather sensitive technical data.

These operatives often present themselves as highly skilled engineers, using polished profiles on platforms like LinkedIn and GitHub. Once inside, they aim to move digital assets, extract source code, or compromise infrastructure — with the ultimate goal of generating revenue for North Korea’s weapons development.

The U.S. government has linked the scam to the Lazarus Group, a well-known cybercrime unit associated with the North Korean regime. Intelligence reports indicate that the group’s activities have led to the theft of billions in cryptocurrency over recent years.

Officials urge crypto firms to strengthen their vetting processes, including verifying job applicants’ identities and scrutinizing remote access permissions. The advisory also recommends businesses monitor unusual activity on internal platforms and stay updated on threat intelligence regarding nation-state actors.

The warning follows a surge in phishing campaigns and job application fraud targeting decentralized finance and crypto startups, which are often more vulnerable to social engineering and remote infiltration.

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Binance helps countries with Bitcoin reserves, crypto policies, says CEO

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Binance has called on governments around the world to consider adding Bitcoin to their national reserves, positioning the digital asset as a strategic hedge amid growing global economic uncertainty.

The push comes as part of Binance’s broader initiative to promote Bitcoin’s role in the evolving financial landscape. The exchange argues that Bitcoin’s decentralized nature, limited supply, and resilience to inflation make it an ideal alternative to traditional reserve assets like gold and foreign currencies.

In a public statement, Binance suggested that countries could benefit from incorporating Bitcoin into their sovereign wealth strategies, especially those seeking greater monetary autonomy or facing currency volatility. The exchange also emphasized that holding Bitcoin can help nations diversify their reserve portfolios and reduce reliance on any single fiat currency, particularly the U.S. dollar.

Binance highlighted El Salvador as a pioneering example of this approach, where Bitcoin has been adopted as legal tender and accumulated as part of its national reserves. The company believes more governments will follow suit as digital assets continue to gain legitimacy and institutional interest.

While some policymakers remain cautious about integrating cryptocurrencies into national finance, Binance maintains that proactive engagement and investment in Bitcoin could provide long-term economic advantages and strengthen financial sovereignty.

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Ripple acquisition Hidden Road secures FINRA registration

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Prime brokerage firm Hidden Road, reportedly in acquisition talks with Ripple, has successfully obtained registration with the Financial Industry Regulatory Authority (FINRA), signaling a major step forward in its U.S. expansion strategy.

The FINRA approval officially registers Hidden Road as a broker-dealer, allowing the firm to operate within regulated financial markets in the United States. This milestone comes as speculation swirls over Ripple’s interest in acquiring the brokerage to bolster its infrastructure and compliance capabilities amid increasing scrutiny from U.S. regulators.

Although neither Ripple nor Hidden Road has confirmed the acquisition, industry insiders suggest that the move would align with Ripple’s broader ambitions to deepen its footprint in traditional finance and enhance institutional access to digital assets.

Hidden Road, known for offering prime brokerage services across traditional and digital asset markets, has rapidly gained prominence by providing institutional-grade trading infrastructure and risk management solutions. The FINRA registration is expected to further legitimize its presence in the U.S. and attract more institutional clients.

The development marks a strategic win for Ripple as it navigates ongoing regulatory challenges in the U.S., while also reinforcing its focus on global growth and integration between blockchain technology and traditional financial services.

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