Zipcoin announced its suspension of operations due to the comprehensive leak of its codebase and private keys, and plans to liquidate the remaining tokens

Zipcoin announced that it has ceased operations, stating that the project code repository and related keys have been fully compromised, and the attackers may control the project wallets and infrastructure. The team indicated that they attempted to migrate the code and rotate credentials in the past 12 hours but failed to find a viable security solution.

Zipcoin also disclosed that the project was affected by the UNCX incident on October 15, where hackers stole approximately 1.1% of the supply of several Ethereum tokens, including ZC, PAAL, and EDGEN, and sold them on the open market. The team subsequently attempted to buy back tokens from the market to compensate for the future token shortfall corresponding to the team's commitments.