TechFlow, June 25 — Today, the zkLend team announced the official shutdown of its operations. This decision follows a recent security breach that severely undermined user trust, along with the delisting of the ZEND token from major exchanges such as Bybit and KuCoin, significantly limiting the token's liquidity and accessibility. The team has decided to allocate the remaining $200,000 in funds toward a compensation fund for affected users, rather than restarting the money market or continuing development. zkLend will keep its DeFi Spring, compensation portal, and kSTRK portal open, continue collaborating with zeroShadow to track lost funds, and plans to open-source its audited codebase in the coming weeks.
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