Zipcoin Project Announces Closure Due to Hacker Attack Resulting in Token Theft

The Zipcoin project has announced its closure, affected by the UNCX incident, where hackers stole 1.1% of the total supply of tokens including PEPECOIN, EDGEN, ZC, X, LO0P, and PAAL on Ethereum. The stolen tokens were subsequently sold on the market. The team has chosen not to disclose the incident publicly and will repurchase tokens from the market to compensate for the shortfall in tokens originally planned for future commitments. The team stated that the project’s code repository was compromised, and all related keys and private keys were controlled by the attackers, potentially affecting the project’s wallets and infrastructure. After approximately 12 hours of attempts, the team did not find a viable security operation solution. As the associated wallet still holds about 2.2% of the tokens, the team will provide a 6-hour selling window for holders and plans to sell the remaining holdings at 12:00 PM Eastern Time on October 22 to reduce the risk of assets being transferred by the attackers.

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