Blockchain platform ZOTH has raised an alarm of a malicious cyberattack on its platform. The attack has disturbed the crypto community, raising concerns about the security and vulnerability of blockchain platforms.
Security Notice
Our system has experienced a security breach. We’re actively investigating the incident and taking all necessary steps to resolve it as swiftly as possible.
We are working closely with our partners to mitigate the impact and fully resolve the issue. A detailed…
— ZOTH (@zothdotio) March 21, 2025
Details of The Attack
According to reports, the attack on ZOTH was highly sophisticated. Hackers exploited a loophole in the platform’s smart contract, likely due to a leakage of admin privileges. giving them access to manipulate or replace the contract with a malicious version. The attackers were then able to gain unauthorized entry to the platform’s funds, making off with a massive haul of digital assets.
MistTrack Security Alert reports that ZOTH lost $8.32 million, with funds traced to a hacker address (0x3b33c5cd948be5863b72cb3d6e9c0b36e67d01e5) and initially sourced from ChangeNOW. The involvement of ChangeNOW as the initial source of funds implies that the attacker may have used funds obtained or laundered through ChangeNOW, although it does not necessarily mean that the platform was directly compromised. Instead, it could indicate that the attacker used ChangeNOW’s services to move or obscure funds after the exploit.
ZOTH is a retail-focused Real-World Asset (RWA) ecosystem that bridges liquidity between traditional finance (TradFi) and decentralized finance (DeFi). It aims to speed up the movement of assets and capital between these two sectors, making RWAs more accessible and scalable through blockchain technology. Users can efficiently invest, lend, and manage digital assets in a safe and decentralized environment.
The platform’s reputation has taken a hit, with many in the crypto community questioning the security measures in place.
Need for Improved Security Measures
The attack on ZOTH has sparked a renewed call for improved security measures across the blockchain industry. Experts are urging platforms to prioritize security and implement robust measures to prevent similar attacks in the future.
The incident has also highlighted the need for greater transparency and accountability, with users demanding more information about the attack and the steps being taken to prevent it from happening again. As the investigation into the attack continues, the blockchain industry is called upon to do more to protect its users and their assets.
Meanwhile, in a separate incident, Four.Meme, a meme token generator operating on the Binance Smart Chain (BSC), recently suffered a devastating cyberattack, resulting in the loss of liquidity on its PancakeSwap v3 pools. The platform lost around 200 BNB (worth $130,000) in the latest exploit.
