LayerZero Says $2.4 Million Wallet Transfers Were Operational Rebalancing, Not a Hack

Large fund transfers from a protocol operations wallet at LayerZero (ZRO) were part of routine operational rebalancing, not a hack, the company said. No user funds were affected.

LayerZero wrote on X on July 15 that the transfers were "not an attack" but "normal operational fund rebalancing." It added that no user funds were exposed to risk.

Earlier, on-chain analyst Specter said there were signs a LayerZero Executor wallet had been compromised, with about $2.4 million of digital assets appearing to have been drained across multiple blockchains.