The Starknet ecological project zkLend has announced its shutdown, with only $200,000 left in the treasury, and will continue to pursue the recovery of previously stolen assets.

On June 25, the Starknet ecological project zkLend announced on social media that it will gradually shut down. The official statement indicated that this decision was by no means made lightly. Over the past few months, the security vulnerabilities encountered by zkLend have seriously shaken user confidence, and the recent delisting of the ZEN Token from mainstream trading platforms such as CEX has further restricted the liquidity and accessibility of the token. These changes have made it difficult for zkLend to effectively allocate resources to develop new business. In light of the current situation, zkLend believes that using the remaining $200,000 in treasury funds for a user compensation fund is more responsible and realistic than restarting the money market or continuing development. The team will continue to remain online and make every effort to advance asset recovery work. BlockBeats previously reported that the zkLend on-chain lending protocol was hacked on February 12, resulting in losses exceeding $9.5 million.