Vitalik novel narrative Meme coin project Zipcoin announces closure

BlockBeats news, October 22: Vitalik novel narrative meme coin project Zipcoin has announced its closure. The team stated that on October 21, it received a notice from Railway that the project's entire codebase had been compromised, including related credentials and private keys. After attempting to migrate or rotate credentials, the team still could not find a viable secure operating solution. A six-hour selling window will be provided for existing holders, and at 00:00 Beijing time on October 23, remaining holdings will be sold and funds pooled to prevent attackers from transferring assets.

According to GMGN data, ZC has fallen more than 90% in the past 24 hours, and its current market cap is less than $300,000. ZC (zipcoin)'s narrative comes from the fictional currency in Ethereum co-founder Vitalik Buterin's novel "Snowmoon." It is designed as an on-chain currency that is "anonymously payable, burns to make sound, and pays taxes in real time," attempting to bring the concept from the novel into real blockchain implementation.