Crypto Hack News Today: Zilliqa Confirms ZIL Cold Wallet Theft

Crypto Hack News Today: Latest Zilliqa Security Incident Update

This roundup of Crypto Hack News Today covers three separate security incidents: a cold wallet theft affecting Zilliqa's exchange partner, a Bitcoin ransom attack on Kenyan President William Ruto's official website, and an undisclosed $735,000 exploit on the TeleSwap bridge flagged by on-chain investigator ZachXBT. 

Zilliqa Hack: What Is the Zilliqa Hack, and How Did It Happen?

Zilliqa has not disclosed how the attacker gained access to the cold wallet, how much $ZIL was taken, or which exchange partner was affected. The company described the event only as a theft of $ZIL from a cold wallet under a partner's control, distinguishing it from a breach of the Zilliqa blockchain itself. Cold wallets keep funds offline and are widely used by exchanges for larger balances, but issues involving signing devices, key access, or internal controls can still expose them, as seen in past incidents at other platforms.

Source: X @zilliqa

The Immediate Impact on Users

As a precaution, Zilliqa asked all exchanges to temporarily pause ZIL deposits and withdrawals to prevent the stolen tokens from being moved or sold through centralized platforms. Bitget separately confirmed it would suspend ZIL deposits and withdrawals, citing "wallet maintenance" without directly linking the pause to the theft. The suspension does not affect ZIL transactions happening directly on the blockchain, only transfers into or out of participating exchanges.

Key Incident Details

• Theft confirmed from a cold wallet controlled by an unnamed exchange partner.

• Amount of ZIL stolen has not been disclosed.

• Root cause of the compromise is still under investigation.

• No confirmation yet of whether a private key or signing process was compromised.

Team Response: Loss and Recovery

Zilliqa said it is coordinating with the affected exchange partner to establish the full scope of the loss and has asked the community to rely only on official channels for updates. The team stated, "We understand the community will have questions. We will share further updates as soon as we have verified information." No recovery or reimbursement plan has been announced yet, and the investigation remains ongoing at the time of writing.

Market Impact: In the Last 24 Hours

Source: coinmarketcap data 

ZIL touched a new all-time low shortly after the announcement before partially recovering, reflecting typical short-term selling pressure that follows unresolved security incidents.

Also in the News: Two More Incidents

The incident wasn't the only security story making headlines. President William Ruto's official website, president.go.ke, was also hacked on July 18, defaced, and held for a 5 BTC (~$320,000) ransom, though Kenyan authorities say no sensitive data was accessed.

 Separately, on-chain investigator ZachXBT flagged an undisclosed $735,000 exploit on the TeleSwap bridge from July 15, with funds later moved into Tornado Cash.

Conclusion

This Crypto Hack News Today update centers on a theft from an exchange partner's cold wallet rather than the Zilliqa network itself, with exchanges pausing ZIL transfers as a precaution while the investigation continues.

Incidents like this also highlight why encryption and secure key management remain essential to protecting digital assets. Key details, including the amount stolen and the affected exchange, remain undisclosed, and Zilliqa has said further updates will follow once verified. 

Disclaimer

This article is for educational and informational purposes only and should not be considered financial or investment advice. Always conduct your own research before making investment decisions.