Zipcoin shuts down after codebase breach, plans to sell remaining tokens

Zipcoin is done. The Ethereum-based project announced an immediate shutdown on October 22, 2026, after a second security breach in less than a week left its team unable to vouch for the safety of its own code. The token, ZC, reportedly fell 84% within a day of the news. For a project that launched in late September, that is a remarkably short arc from debut to obituary. Two breaches, one week The announcement came through an X post from the project’s account, @zipcoincash. The team pointed to a full compromise of its codebase, discovered on October 21, as the deciding factor. That was the second blow. On October 15, an incident tied to UNCX drained 1.1% of the ZC supply, along with other tokens. The stolen ZC was dumped on the open market. The team then quietly bought tokens back, a detail it disclosed only as part of the shutdown notice. With a fixed supply of 1 billion tokens, that first hack worked out to roughly 11 million ZC hitting the market. The exit plan Zipcoin’s team still controls wallets holding 2.2% of the total supply, or about 22 million tokens. It plans to sell those holdings after a short exit window for existing holders. ZC peaked at a market capitalization of ap...