Zilliqa CEO Resigns as Board Assumes Control Amid Security Inquiry

The chief executive officer of Zilliqa has stepped down as the organization's board assumes oversight responsibilities during an active security investigation, according to an incident update ¹. The administrative overhaul coincides with infrastructure halts and reported decentralized finance losses across the network's ecosystem ¹.

Cross-chain infrastructure connected to the blockchain has been suspended, with the X-Bridge closed in both directions ¹. Meanwhile, decentralized exchange PlunderSwap reported that it sustained losses across four token pools ¹. Specific financial loss estimates, the root cause of the vulnerability, and the complete identities of the compromised pools were not disclosed in the report ¹.

Bridge Halts and Ecosystem Impact

The leadership departure places executive authority directly under the board's supervision while technical teams evaluate the protocol's security footprint ¹. The suspension of X-Bridge halts liquidity transfers into and out of the network in both directions, restricting cross-network settlement while the probe remains open ¹.

At the time of writing, broader digital asset markets remained steady, with $BTC trading at $80,804 (+1.6% 24h) and $ETH at $2,350 (+1.9% 24h). The timeline for reopening the bridge, the technical status of the compromised PlunderSwap pools, and future executive appointments remain unconfirmed as the inquiry continues ¹.