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Alexander Zahnd, CEO of layer-1 blockchain project Zilliqa (ZIL), has stepped down voluntarily after the project suffered a hack in July, The Block reported. The board will now oversee the company directly.
Zilliqa’s cross-chain X-Bridge remains suspended. The project is replacing the cryptographic keys used in its operations and investigating the proxy contracts and liquidity pools affected by the security incident.
In July, Zilliqa said a critical flaw in a related Ledger app had exposed private keys used for ZIL transactions to recovery attacks. Major South Korean exchanges including Upbit and Bithumb had previously delisted ZIL from South Korean won trading pairs.