The Ethereum layer 2 network ZKsync and its developer Matter Labs faced a security breach on May 13 when hackers compromised the X account and posted false claims about a US Securities and Exchange Commission (SEC) probe. The compromised accounts shared links to a fake airdrop, leading to concerns of a phishing scam. Following the incident, both ZKsync and Matter Labs released statements clarifying that the claims of an SEC investigation were fabricated. The fake news appeared to be an attempt to manipulate the price of ZKsync’s token, which experienced a 2% drop after the breach. Matter Labs confirmed that the situation is under control and that the accounts are secure. The SEC has previously investigated crypto companies, with some firms publicly disclosing the regulator’s inquiries. ZK token’s value decreased by 6.4% following the incident but had previously seen a substantial increase of 38.5% over the past week. Matter Labs is investigating the breach and suspects that compromised delegated accounts may have been the entry point for the hackers. This security breach is the second incident involving ZKsync-controlled platforms in recent months, following an attack in April that resulted in the theft of millions of dollars’ worth of tokens. The attacker later returned most of the stolen tokens and accepted a bounty for their actions.