[GAP-3 Update] ETH-to-ZK Conversion
Background
Following authorization by the Token Assembly in GAP 3, the ZKsync Security Council is converting ETH recovered from the April 2025 exploit into ZK tokens.
Outcome
A total of 1,797.3 ETH was recovered via the Safe Harbor offer extended by the Security Council — 767 ETH on Era and 1,030.3 ETH on Ethereum.
The total value of the conversion is 67,792,545.79 ZK tokens.
The recovered ZK tokens will be transferred to the Token Governor Timelock to be held in the custody of the Token Assembly.
The Security Council is working with the ZKsync Foundation in order to execute the conversion. The transactions related to the conversion will be shared in this thread when they are executed.
Recovery Overview
The Security Council is pleased to report that although the recovered ETH represented 90% of the exploited funds, the execution of the ETH-to-ZK conversion will fully restored more than the total amount originally involved in the exploit. As a result, 100.5% of the exploited ZK tokens will be recovered.
| Description | Amount (ZK) |
|---|---|
| Total ZK Exploited | 111,881,122 |
| ZK Sold by Attacker (for ETH) | 67,193,843 |
| ZK Recovered via Safe Harbor | 44,687,278 |
| ZK Recovered from ETH Conversion | 67,792,545 |
| Total ZK Recovered | 112,479,824 |
100.5% of exploited ZK tokens recovered
Next Steps
The recovered 67.79M ZK tokens will be controlled by the Token Assembly via the Token Governor Timelock. Future Token Program Proposals (TPPs) can be approved by the Token Assembly to use these recovered tokens.
Community members and Delegates are encouraged to share ideas on the best use of the tokens.