ZK Token Airdrop: From a $5M Hack to the Future of ZKSync in 2025

ZKSync grabbed the headlines in June 2024 with the announcement of its much-awaited ZK token airdrop — one of the biggest Layer 2 token airdrops on record. Subsequent to that, the project has, however, had significant developments not mentioned in the initial announcement. If you’re holding (or missed out on) ZK tokens, here’s what you should know.

Background on the ZKsync Era 

The ZKSync Era is a pivotal development in the evolution of blockchain technology, specifically focusing on enhancing the Ethereum ecosystem. Developed by Matter Labs, ZKSync is a layer-2 scaling solution designed to enhance transaction speed and reduce expenses on the Ethereum network. Utilising zero-knowledge (ZK) cryptography, ZKSync seeks to offer a more efficient and scalable platform for decentralised applications (dApps) and financial operations.

At the heart of the ZKSync Era is zero-knowledge proof technology, which allows transactions to be verified without revealing the underlying data. This approach enhances privacy and also significantly boosts the Ethereum network’s transaction throughput. ZKSync’s zk-rollup technology aggregates multiple transactions into a single batch, which is then processed off-chain and verified on-chain. This reduces the computational load on the Ethereum mainnet. It results in faster and cheaper transactions.

ZKSync seamlessly integrates with the Ethereum network. It ensures compatibility with existing dApps and smart contracts. This integration allows developers to migrate their projects to ZKSync without significant modifications. It fosters greater adoption of the platform. The ZKSync Era also supports Ethereum’s native tokens. Thus, it provides users with a familiar and user-friendly experience.

Security Breach in April 2025: Summary and Resolution

On April 15, 2025, ZKSync experienced a security breach when a compromised admin account exploited the sweepUnclaimed() function in the airdrop distribution contracts. This allowed the attacker to mint approximately 111 million unclaimed ZK tokens, valued at around $5 million at the time.​ Importantly, this incident was isolated to the airdrop distribution contracts. The core ZKSync protocol, the ZK token contract, and user funds remained secure and unaffected.

Following the breach, the ZKSync Association engaged with the attacker, who agreed to return 90% of the stolen assets in exchange for a 10% bounty. By April 23, nearly $5.7 million worth of tokens had been returned to the ZKSync Security Council.​

Airdrop Claim Deadline Has Passed

If you qualified for the ZK airdrop but missed the claim deadline, the window has now closed. January 3, 2025, was the last day to claim ZK tokens received as part of the June 2024 campaign.

Any remaining unclaimed tokens beyond this date were deemed inactive and the cause of the above breach. Disappointing for those who missed out, it emphasises the need to stay current with token claim deadlines. 

1. Security Incident Details: Add a section briefly summarising the April 2025 breach, including how it happened (hacked Merkle contract keys), and reinforce that user wallets were not affected. Reference official announcements and reputable news outlets to add credibility.
2. Airdrop Claim Deadline: Modify the article to indicate clearly that the claim deadline officially closed on January 3, 2025. This is essential for transparency and informs users as to why there were unclaimed tokens.
3. Market Reactions: Add observations about the post-airdrop sell-off, the impact it had on token prices, and what it means regarding investor sentiment. This helps create a fuller picture for whoever is evaluating the token’s long-term future.

Following the breach, the ZK token’s price dropped significantly. The token’s value fell by approximately 15-20% immediately after the incident. As of now, the ZK token is trading at around $0.059969. Thus, it reflects the ongoing market volatility. ZKSync’s ZK token launch was a breakthrough for the Layer 2 ecosystem, but the ride hasn’t been smooth. From a surprising security exploit to a dramatic market response, the tale of the ZK airdrop is still unfolding.

Whether you’re following leading Web3 projects or have ZK holdings, knowing what these developments mean means you won’t find yourself in the dark as the ZKSync roadmap plays out.

ZKSync Token Distribution Plan

The ZKSync token distribution plan marked a significant milestone in the ZKSync ecosystem’s evolution. Matter Labs, the main development team behind ZKSync Era, meticulously outlined the details of the ZK token airdrop, ensuring a fair and widespread distribution of tokens.​

The ZKSync zk airdrop was one of the largest of its kind among major layer-2 solutions. According to Matter Labs, 17.5% of the total 21 billion ZK token supply, amounting to approximately 3.675 billion tokens, was distributed to users. This substantial allocation underscored Matter Labs’ commitment to incentivising early adopters and active participants within the ZKSync ecosystem.

Distribution Criteria

The ZKSync airdrop update revealed a comprehensive and inclusive distribution strategy. The airdrop primarily targeted ZKSync users, ensuring that those who actively engaged with the platform were rewarded accordingly. Specifically, 89% of the airdropped tokens went to ZKSync users who met certain activity thresholds. While the exact criteria for this threshold were not disclosed, it emphasised rewarding genuine and sustained interaction with the ZKSync network.​

In addition to regular users, the remaining 11% of the airdrop was allocated to various ecosystem contributors. This included 5.8% for ZKSync native projects, 2.8% for on-chain communities, and 2.4% for builders who played a crucial role in the development and growth of the ZKSync platform.

Addressing Whales and Fair Distribution

To ensure a fair distribution and prevent an imbalance in token allocation, Matter Labs introduced a cap on the number of tokens any single address could receive. Each address was limited to a maximum of 100,000 ZK tokens. This approach was designed to cap the influence of large holders, or “whales,” and ensure that community members who genuinely contributed to the ZKSync ecosystem were fairly rewarded.​

Allocation to the Matter Labs Team and Investors

Beyond the public airdrop, the token distribution plan also outlined allocations for the Matter Labs team and its investors. The team received 16.1% of the ZK tokens, while investors were allocated 17.2%. These tokens were locked for one year and then unlocked gradually over the subsequent three years, aligning with the long-term vision and commitment of the Matter Labs team to the platform’s sustained growth. The first release occurred in June 2025, unlocking 3.66% of the total supply, with subsequent monthly unlocks of 0.82% continuing until June 2028. ​

Know More: Top Crypto Airdrops

Governance and Ecosystem Initiatives

The remaining portion of the ZK tokens was allocated to furthering the governance and ecosystem initiatives of ZKSync. A significant 29.3% of the total token supply was directed to the new “Token Assembly,” which plays a central role in the platform’s governance. This initiative is part of the broader governance plans unveiled by Matter Labs, empowering the community to participate in protocol upgrades and decision-making processes. Additionally, 19.9% of the tokens were allocated to various ecosystem initiatives, fostering innovation and development within the ZKSync environment.

What’s Next for ZKSync?

With the security breach addressed and the majority of stolen tokens recovered, ZKSync is focusing on its roadmap for 2025 and beyond. Key initiatives include:​

• Scalability Enhancements: Aiming to achieve over 10,000 transactions per second (TPS) while maintaining low transaction fees.​
• Developer Experience Improvements: Enhancing tools such as LLVM tooling and VS Code debugger to simplify innovative contract development.​
• Privacy Features: Introducing private Validium to provide chain-level privacy with zero-knowledge proofs.​

These developments underscore ZKSync’s commitment to advancing the Ethereum ecosystem through scalability, privacy, and user-centric features.