In a sudden and controversial move, ZKX ceased operations, drawing harsh criticism from leading investors and market makers such as Amber, HashKey and ArkStream. The sudden closure was announced without any prior communication with the relevant parties, leaving many people unaware and demanding answers.
Investors have expressed frustration with ZKX's lack of transparency. “The team claimed they were out of money, refused to provide any financial or spending details, and did not contact us,” a representative from Amber said. This view was echoed by HashKey and ArkStream, who jointly criticized ZKX for its handling of the situation and lack of accountability.
Henri, Director of Developer Relations at the Starknet Foundation, stepped in to defend ZKX in the face of growing backlash: “ZKX has been in this business for years. We know them, we've worked with them; they've done things for the ecosystem that no one else could do. Calling them scammers just because of a few bad decisions is completely unwarranted.” “I see more incompetence than bad faith,” he said.
ZKX's token creation event, which took place a few weeks ago alongside millions of dollars in venture capital funding, led blockchain sleuth ZachXBT, among others, to claim that the project could be a rug pull, while founder Eduard Jubany Tur defended the closure, stating that it did not make economic sense for the project to continue .
*This is not investment advice.