zkLend ceases project operations, remaining funds to be used for user compensation

Foresight News reports that zkLend has announced on the X platform that the team will gradually wind down the project’s operations. The team stated that a recent security vulnerability has severely impacted user confidence, and the delisting of the ZEND token from major exchanges has further restricted liquidity and usability. As a result, the team has decided to allocate the remaining $200,000 to a compensation fund for affected users and will continue to track the stolen funds. Additionally, zkLend will open source its audited code for those interested in further development.