ILITY announced a security incident on the ILITY Network and suspended the operation of its cross chain bridge. Currently, we are working with law enforcement agencies, cryptographic forensics experts, and investors to investigate. On chain analyst Specter monitored approximately 35700 ZEC and 4.1 million ILY tokens flowing out of the bridge, with ZEC being transferred to the Bitcoin and Ethereum networks via NEAR Intents and multiple addresses. Due to the privacy characteristics of Zcash, the exact correlation between the aforementioned funds and the ILITY event has not been confirmed.
