Building sustainable liquidity infrastructure for Kaspa's DeFi ecosystem | POL • Insurance Fund • Revenue sharing | Stake $ZEAL | TG: t.me/ZealousCommunity
Kaspa
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🚀 BIG NEWS! Zealous Swap has officially been audited by @hexens!
🛡️The same world-class firm trusted by industry leaders like PancakeSwap, LidoFinance, Polygon, 1inch, and EigenLayer — with 200+ audits and a flawless 3-year track record — has given us their stamp of approval. ✅
Security and innovation are at our core. This is just the beginning. 🔥
Audit report: github.com/Hexens/Smart-Cont…
Hexens is happy to announce the completion of our security review for @zealousswap.
The first DEX in Kaspa Ecosystem.
Our audit focused on 5 key smart contracts, covering core DEX logic, NFT-based fee mechanics, staking, and farming systems.
Full report 🔽
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We’ll be rolling out some upgrades to the Zealous Launch testnet over the next several hours, and possibly into tomorrow.
Expect degraded performance, temporary downtime, and possible network resets while we work.
Thanks for testing with us 💜
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Trading on ZealousSwap is now reopened on Kasplex L2.
With the KRC 20 indexer paused and the affected bridge routes closed, we are comfortable reopening trading on the network.
Igra L2 trading remains open as well.
Kasplex L2 users can now resume trading normally.
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Zealous Swap retweeted
⚠️ KRC-20 incident response update
Thank you for your support and understanding. It's been encouraging to see the professionalism and coordination across the Kaspa ecosystem during a difficult few days.
We're working with Swiss legal counsel on the handling of incident-linked and returned funds, including the final distribution plan.
iKAS to KAS canonical exits have resumed. Under the updated settlement policy, operators will release the portion cleared by review and withhold only the amount attributed to the incident. Because of these reviews, waiting times are longer than usual.
Additional hardening is planned for the Hyperlane bridge before it reopens. We'll share the implementation and reopening criteria as they are confirmed.
Our priority is restoring access for legitimate users while continuing recovery efforts for those affected.
With questions or comments, please reach out in DM, on Telegram t.me/IgraCommunity and Discord discord.gg/invite/igralabs.
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As part of the steps we are taking after the KRC 20 incident, we have paused ZEAL emissions from the Infinity Pool and Farms.
The recovery plan is still being worked on, but one thing we can do immediately is avoid adding more ZEAL supply through protocol rewards while the current supply imbalance is being addressed.
This is a temporary measure while we determine the fairest way forward for the community.
We will not rush the recovery plan. We would rather get it right.
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🚨 Community Update
Trading on ZealousSwap is now reopened on Igra L2.
The Kasplex KRC 20 indexer has been paused and the KAT Bridge routes from KRC 20 L1 to Igra and Kasplex L2 are closed, preventing additional unbacked KRC 20 supply from entering Igra.
We know ZEAL supply on the L2s was inflated as a result of the incident. While this issue did not originate from ZealousSwap, we are taking responsibility for dealing with its consequences as fairly as possible.
All trades that happened during and after the incident remain valid. This includes users who bought ZEAL at heavily discounted prices. We will not invalidate legitimate trades or penalize anyone for trading the market that existed at the time.
With the affected route now closed, we are comfortable reopening trading on Igra L2.
Kasplex L2 trading will remain paused for now while we continue working on the recovery plan.
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RT @Igra_Labs: ⚠️ Status update: what to do if you received unexpected iKAS on 21 September.
Short version:
if you received iKAS from an…
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We just want to take a moment to say thank you.
The amount of support, patience, and kind messages we’ve received over the last couple of days has honestly meant a lot to us. We’ve read your messages, and we’re extremely grateful to have this community behind us during such unfortunate circumstances.
As we’ve already explained in our reports, ZealousSwap itself was not exploited. The issue originated from the KRC 20 indexer, but unfortunately the consequences reached our liquidity pools and affected many of you.
We also want to make something clear for anyone who may not know this: the ZealousSwap protocol itself was one of the biggest liquidity providers in both the ZEAL and NACHO pools, so the protocol suffered significant losses alongside everyone else.
But when it comes to the recovery plan, recovering the protocol’s own liquidity is not our priority.
Our focus is on the community.
We are working tirelessly on a recovery plan that is as fair as possible to everyone affected, including those who bought after the incident. There are a lot of moving pieces and we want to make sure we get this right rather than rush into a solution that creates another group of people who are treated unfairly.
If recovering users means the protocol never recovers its own lost liquidity, we are prepared for that. Removing the protocol from the recovery equation also makes what we are trying to achieve significantly more realistic.
We’re sorry that our community has had to go through this, even though the vulnerability itself was outside of ZealousSwap. Right now, what matters to us is what we do next.
Thank you again for sticking with us. ❤️
We’ll share the recovery plan as soon as we’re confident it is the fairest path forward.
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Zealous Swap retweeted
🚨 KRC 20 Incident: Complete Fund Trail
Yesterday we published the technical breakdown of how the KRC 20 indexer was exploited.
Today we are publishing the other half: where the money went.
We traced the proceeds from the forged transfers, through the bridges and liquidity pools, back onto Kaspa L1 and through the addresses used to move the funds.
The trail reaches identifiable exchange accounts, including KuCoin, while a significant portion of the iKAS remains trapped on Igra.
Every transaction in the report is public and can be verified independently.
Full report in comments.
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🚨 KRC 20 Incident: Complete Fund Trail
Yesterday we published the technical breakdown of how the KRC 20 indexer was exploited.
Today we are publishing the other half: where the money went.
We traced the proceeds from the forged transfers, through the bridges and liquidity pools, back onto Kaspa L1 and through the addresses used to move the funds.
The trail reaches identifiable exchange accounts, including KuCoin, while a significant portion of the iKAS remains trapped on Igra.
Every transaction in the report is public and can be verified independently.
Full report in comments.
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Zealous Swap retweeted
🚨 KRC 20 Indexer Signature Bypass: Incident Report
We have completed our analysis of the KRC 20 incident that affected ZEAL and other bridged assets.
Importantly, our investigation found no exploit in ZealousSwap, Igra, or Kaspa L1. All three operated as intended. The vulnerability was in the Kasplex KRC 20 indexer.
The report covers the signature bypass, how unauthorized KRC 20 balances were created, how they were bridged to L2, and the resulting impact on liquidity.
Full incident report in the reply.
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🚨 KRC 20 Indexer Signature Bypass: Incident Report
We have completed our analysis of the KRC 20 incident that affected ZEAL and other bridged assets.
Importantly, our investigation found no exploit in ZealousSwap, Igra, or Kaspa L1. All three operated as intended. The vulnerability was in the Kasplex KRC 20 indexer.
The report covers the signature bypass, how unauthorized KRC 20 balances were created, how they were bridged to L2, and the resulting impact on liquidity.
Full incident report in the reply.
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Full incident report:
drive.google.com/file/d/1X7j…
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Zealous Swap retweeted
just a gentle reminder that krc20 is not kaspa L1, it only travels over L1 txs as data carriers, but the interpretation of krc20 state is done purely offchain just like any other non-zk based solution. this is why covenants were developed for kaspa L1 with kcc20 built on top of them for native assets (note: kcc20 spec is still in draft)
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We are currently investigating a critical exploit affecting the Kasplex KRC20 indexer.
Based on what we know so far, the exploit allows an attacker to create unauthorized KRC20 balances, which were then bridged to Igra and Kasplex L2 and used to drain liquidity pools, including ZEAL and NACHO pools.
We strongly advise everyone not to buy or interact with KRC20 tokens until the issue is resolved, as the exploit may affect any KRC20 token.
We are in contact with the relevant teams and are working to block the exploiter from moving the remaining funds.
More details will be shared as soon as we complete our investigation.
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Zealous Swap retweeted
We want ZealousLaunch to become more than a place to create tokens.
The bigger goal is a creator economy on Kaspa L1 where creators can keep earning from what they build.
Launch an idea, build a community around it, and if the curve graduates, liquidity moves into ZealousSwap automatically. From there, creator royalties continue through swaps on that market.
We want creators to have a reason to keep building long after launch, because the markets they create can keep generating revenue for them.
A launch should not be the end of creator revenue. It should be the beginning.
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Zealous Swap retweeted
Dear kaspa:native and Kaspa tokens on @CoinExcom,
Wind-down is in progress.
Please begin to withdraw all of your assets. Withdrawal services will remain available from today to December 22, 2026. CoinEx maintains an asset reserve ratio of over 100%. All user assets are fully backed and available to withdraw.
Next week on September 22, on-chain deposit services will cease. In two weeks on September 29, all spot trading services will cease.
Official CoinEx announcement: coinex.com/en/announcements/… @kaspaunchained @Kaspa_Commons nacho-the-kat:native @ZealousSwap @kaspy_io
Dear CoinEx Community,
Today, I am announcing that CoinEx will cease operations and begin an orderly wind-down.
First, what matters most: your assets are safe. CoinEx’s reserve ratio exceeds 100%, and every user asset is fully backed and available for withdrawal. Withdrawals are open starting today and will remain open until December 22, 2026. Certain tokens may take slightly longer to process while funds are moved between cold and hot wallets, but every withdrawal request within the withdrawal period will be honored and processed.
CoinEx officially went live on December 22, 2017. Exactly nine years later, on December 22, 2026, the platform will be formally closed. Nine years is a long time in crypto. Together, we lived through multiple bull and bear cycles, witnessed the rise and fall of countless projects, and watched many of our peers leave the market in one form or another.
After much reflection, I have come to accept a hard truth. CoinEx did not become one of the industry’s leading exchanges, and the security and compliance risks of running a crypto exchange have become increasingly difficult to contain. Revenues can decline, responsibility does not. Carrying unlimited risk for limited revenue is no longer a rational choice. That said, CoinEx has survived nine years in one of the most volatile and unforgiving industries, weathered every storm, and is leaving intact, and with dignity. We may not have won the race, but we are finishing with honor.
On CET: CoinEx will buy back CET at its initial listing price of 0.005 USDT per token, with no cap on quantity. To every CET holder who has supported us over the years, thank you. CET represents your belief in CoinEx and, for many of you, your belief in me personally. I am sorry that we were not able to create the long-term value we once hoped CET would deliver. The least we can do now is bring that chapter to a responsible conclusion.
I did seriously consider selling CoinEx. Ultimately, I decided against it. Users entrusted their assets to CoinEx because they trusted the platform and, in many cases, trusted me personally. I did not feel that handing the platform and that trust to a new owner was the right way to end this journey. A clean ending is the right ending.
Nine years, millions of users. I did not turn CoinEx into the “great” exchange I once hoped it would become. But I can give it a decent ending: making sure users can withdraw their assets in full, giving my employees a dignified farewell, and providing CET holders with a clear and responsible conclusion. This is the best ending I can give CoinEx.
To everyone who traded with us, built with us, and stood by us through the hardest days of this market, thank you. It has been a privilege to walk this road with you.
To the CoinEx team, thank you for building this platform with me, for carrying it across every cycle, and now for seeing it through to the very last day.
For detailed arrangements, please refer to the official announcement: coinex.com/en/announcements/…
Thank you all for nine years of trust.
Haipo Yang
Sept 15, 2026
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We don’t need countdowns to farm engagement from communities with the possibility of a listing.
On Zealous Swap, anyone can list their token for free.
That’s the point of permissionless markets.
💎in👁️
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