ZKSpace Hit by Suspicious Transactions: $4 Million at Risk

CyberAlert has reported a significant security concern involving ZKSpace (ZKSpace), with approximately $4 million in suspicious transactions detected. The official ZKSpace X account is currently suspended, adding to the uncertainty. The compromised funds saw about $1.3 million, including USDT and USDC, quickly swapped for ETH. This ETH was then funneled into Tornado Cash, a known cryptocurrency mixer often used to obscure the origin of funds. The remaining balance was distributed across two separate addresses. The ZKSpace team has yet to release an official statement beyond the X account suspension. Users are advised to exercise caution and monitor their ZKSpace wallets for any unauthorized activity. The incident highlights the persistent risks within the DeFi space and the importance of robust security measures. Further investigation is underway to determine the source and full extent of the exploit. ```