Suspicious Fund Transfers on ZKFair L1 Bridge: Over $6 Million Channelled to Aave for Staking

On April 10th, COINOTAG News reported that Ye Xian, the co-founder of SlowMist, has conducted a detailed analysis regarding a significant movement of assets. On March 27th, over $6 million was shifted from the ZKFair L1 Bridge to a multisig address managed by its administrators. This transfer was subsequently directed to an External Owned Account (EOA), where the majority of the funds appear to have been allocated towards staking activities on Aave. This sequence of transactions raises concerns about potential suspicious behavior, given that the EOA is linked to one of the ZKFair Safe multisig’s owners. As the cryptocurrency sector continues to evolve, monitoring such activities becomes crucial for understanding underlying network dynamics and ensuring systemic security protocols are enforced.