ZkLend announces service closure

Odaily Planet Daily News: zkLend announced on X platform that it will shut down its service, stating that the vulnerabilities it has suffered in recent months have seriously damaged user confidence. In addition, mainstream exchanges such as Bybit and KuCoin have recently taken down ZEND, further limiting the liquidity and accessibility of tokens. This block severely restricts the ability to effectively allocate new projects. Given these circumstances, zkLend will use the remaining treasury funds ($200000) to support affected users through a recovery fund, which is a more responsible and meaningful way of resource utilization than restarting our money market and continuing to develop. Support our community during this process: 1. DeFi Spring、 The recovery and kSTRK portal will remain active, and users can access and cancel staking or claiming. 2. We will continue to collaborate with zeroShadow and leverage their expertise in tracking lost funds. Any recovered funds will be directly used for user recovery funds. 3. We will open source the reviewed and updated code repository for further development by any interested parties. This will be released in the coming weeks.