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ZK (ZKsync) fluctuated 57.2% in 24 hours: Hacker incident triggers 20% price pullback and selling pressure

ZK (ZKsync) fluctuated 57.2% in 24 hours: Hacker incident triggers 20% price pullback and selling pressure

Bitget PulseBitget Pulse2026/04/24 08:46
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By:Bitget Pulse

Volatility Brief

Over the past 24 hours, ZK has rebounded from a low of $0.01147 to a high of $0.01803, currently quoted at $0.01442, with a price fluctuation of up to 57.2%. The 24-hour trading volume is approximately $14.5-17 million, slightly lower than the previous day, with futures trading volume higher at around $19-23 million.

Brief Analysis of Abnormal Movement Causes

- ZKsync confirmed that the airdrop administrator wallet was compromised, resulting in a loss of $5 million in tokens. The hacker returned the funds after accepting a 10% bounty, which directly triggered a 20% price drop.

- Community monitoring indicated that potential internal distributors sold 23 million tokens. ZachXBT announced a $25,000 bounty to investigate concerns of exchange manipulation, intensifying short-term selling pressure.

Market Views and Outlook

Market sentiment remains cautious, with mainstream community discussions focusing on the aftermath of the hacking incident and a 95% drop in network activity. Some analysts are bullish on a potential "descending wedge" breakout targeting $0.0215-0.045, but warn of execution risks and supply concentration. Short-term adjustments may continue, with attention on exchange investigation results and token buyback mechanisms.

Note: This analysis is automatically generated by AI based on public data and on-chain monitoring, for information reference only.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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