Vitalik novel-narrative Meme coin project Zipcoin announces closure

Odaily reports: Vitalik novel-narrative Meme coin project Zipcoin has announced its closure. The team stated that the project was affected by the UNCX incident on October 15, when hackers drained 1.1% of the total supply of tokens including PEPECOIN, EDGEN, ZC, X, LO0P, and PAAL on Ethereum, and the stolen tokens were subsequently sold off on the public market. At the time, the team chose not to disclose the incident and instead bought back tokens on the public market to cover the token shortfall originally intended for the team's subsequent commitments.

The team also stated that after lunch yesterday, they received a notice from Railway that the project's entire codebase had been compromised, including all related keys and private keys, potentially allowing attackers to control the project's wallets and infrastructure. After approximately 12 hours of attempting to migrate or rotate credentials, the team still could not find a viable secure operating solution. Since the associated wallets still hold approximately 2.2% of the total supply of tokens, the team will provide holders with a 6-hour selling window and plans to sell the remaining holdings and consolidate funds from associated wallets at 12:00 PM Eastern Time on October 22, to reduce the risk of assets being transferred by attackers.