zkLend announces it will shut down its services

Odaily News zkLend announced on the X platform that it would shut down its services, saying that the vulnerabilities it suffered in recent months had severely damaged user confidence. In addition, major exchanges such as Bybit and KuCoin recently removed ZEND from their listings, further limiting the liquidity and accessibility of the token. This block severely limited the ability to effectively configure new projects.
Given these circumstances, zkLend will use the remaining treasury funds ($200,000) to support impacted users through a recovery fund, which is a more responsible and meaningful use of resources than restarting our money markets and continuing development.
Support our community in this process:
1. The DeFi Spring, Recovery, and kSTRK portals will remain active and users can access and unstake or claim.
2. We will continue to work with zeroShadow to leverage their expertise in tracking lost funds. Any recovered funds will go directly to the User Recovery Fund.
3. We will open source the audited and updated code base for further development by any interested parties. This will be released in the next few weeks.