ZKsync (ZK) Price Hits All-Time Low After $5M Account Compromise

Key Takeaways

• ZKsync’s (ZK) price fell to a new all-time low on April 16.
• The ZKsync team discovered a $5 million hack one day earlier.
• How long will the ZKsync downward movement continue?

The ZK price has had a nightmare start to 2025, falling over 80% since its cycle high of $0.27 in December 2024.

The decline was exacerbated on April 15, when the ZKsync team revealed a $5 million exploit caused by a compromised airdrop administrator account.

Though the ZK price bounced from its lows, the broader trend remains bearish. Let’s analyze the ZK price action and see where the price might be heading next.

ZKsync’s Compromised Account

On April 15, the ZKsync team announced that it had identified a compromised admin account that took over $5 million worth of ZK tokens.

These are the remaining unclaimed tokens from the ZKsync airdrop.

The team reassured users that all their funds were safe, and this isolated incident solely affected the ZKsync airdrop contract.

Later the same day, the team announced that the compromised account was the administrator of the three airdrop distribution contracts.

The attacker minted 111 million unclaimed ZK tokens from the airdrop contracts.

According to the team, the attacker still holds most of its funds, and all the funds that could be minted have already been minted.

ZK All-Time Low

The daily time frame analysis shows that ZK has fallen inside a descending parallel channel since December 2024.

ZKsync broke down from the $0.095 horizontal support area and reached a new all-time low in March 2025 before bouncing.

However, ZK failed to break out from the channel’s resistance trend line (black circle) and fell to a new all-time low of $0.039 on April 15.

The low validated the channel’s support trend line, creating a long lower wick.

Some bullish signs are brewing, evident in the bullish divergences in the Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD).

However, the indicators are still below their bullish thresholds.

As a result, the ZK price could continue to fall inside the descending parallel channel in the months ahead.

Negative News Sinks Price

The ZK price fell to a new all-time low after a compromised admin account breach led to a $5 million hack.

The ZK trend had already been bearish, and the negative news only exacerbated it.

ZK could continue to fall inside its descending parallel channel and reach new lows.