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Home News Story

zkSync Era on the brink of tragedy: 921 ETH narrowly saved by Matter Lab

by Ashutosh Thakur
April 7, 2023
in News Story
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zkSync Era on the brink of tragedy: 921 ETH narrowly saved by Matter Lab
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A size problem on zkSync – zkSync Era is a second coat solution based on a zk-rollup. The Era mainnet was launched on March 24, opening the doors to the zkEVM developed by Matter Labs. However, not everything goes exactly as planned.

921 ETH locked forever on zkSync Era

Two weeks ago, the zk-rollup of zkSync Era opened its doors. Since then, the network has attracted many users and more and more projects are developing there.

Unfortunately, zkSync Era encountered its first technical incident. Indeed, on April 6, the user @0xedenau revealed that 921 ETHworth $1.7 million, find themselves stuck in the smart contract of the GemholicECO project.

Tweet de 0xedenau – Source : Twitter.

In practice, GemholicECO made a sale of its tokens in anticipation of the launch of its protocol. This sale was crowned with success with the raising of 921 ETH. However, when the teams attempted to transfer the funds, drama ensued.

In fact, all of the funds were blocked on the contract due to a problem with function transfer() of the last.

According to information reported by various Internet users, it seems that the issue is located at the zkEVM level from zkSync Era. Indeed, the zkEVM is supposed to ensure perfect compatibility with Ethereum. However, it seems that this is not the case for all the features of the EVM.

“zkSync has its own Solidity toolchain which compiles code into a format compatible with zk proofs, but still not 100% compatible with EVM. They had warned, that’s why projects should test carefully before deployment, this project didn’t bother to test its forwarding function. »

>> Need to store your cryptocurrency safely? Ledger offers you $20 in BTC for the purchase of a Nano S Plus key (commercial link) <<

The recovery of funds by Matter Labs

Despite this incident, Matter Labs, the developer team behind zkSync, has reassured the community. So they have claimed the funds were safe and that an elegant solution had been found to unlock the GemholicECO contract and transfer the funds.

Matter Labs announces that it has found a solution.
Matter Labs announces that it has found a solution.

Indeed, in a thread posted on Twitter, Matter Labs announces have found a solution. Subsequently, the latter returned to the compatibility with the EVM.

Thus, they reminded that zkSync Era is not equivalent EVM, a deliberate design choice, which does not come without some drawbacks.

However, the team acknowledged its responsibility for this error you promised continue to solve tirelessly the similar problems that may arise in the future.

Nevertheless, the GemholicECO project also has its share of responsibility. Indeed, he published his contract on the mainnet, without taking care to test it beforehand on the testnet or on a local node. A cruel lack of seriousness and professionalism on the part of the developers.

Despite this incident, activity on zkSync Era continues to grow. So, in just 10 days, layer 2 witnessed an influx of over $121 million.

Need a secure wallet to explore the multiple applications of DeFi? The best solution is still a personal hardware wallet? Equip yourself with a secure hardware wallet. Ledger, offers you up to $30 in BTC for the purchase of a Nano key. Your security is priceless (commercial link).

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