[Crypto projects](https://revain.org/projects/) › Zilliqa

# Zilliqa (ZIL): how it works, supply and reviews

## Status update

- **Upbit delisting**: Upbit (South Korea) ends ZIL trading (ZIL/KRW and ZIL/BTC) at 15:00 KST on 16 November 2026; deposits have stopped and withdrawals are supported until 16 December 2026 (Upbit notice of 16 October 2026). [source ↗](https://upbit.com/service_center/notice?id=6669)
- **Reason given by Upbit**: Upbit had designated ZIL a caution-listed asset on 22 July 2026 over an unresolved security incident, and says the issue was not resolved. [source ↗](https://upbit.com/service_center/notice?id=6669)
- **Upbit withdrawals paused**: Upbit paused ZIL withdrawals from 12:00 KST on 30 October 2026 for a hard fork; no resumption notice had been posted as of 1 November 2026. [source ↗](https://upbit.com/service_center/notice?id=6716)
- **Bithumb**: According to Zilliqa, Bithumb is also delisting ZIL; no Bithumb notice was checked. [source ↗](https://t.me/zilliqa/1297)

As of 1 November 2026, from the company’s own announcements unless stated otherwise.

## In short

- **Type**: Public layer-1 blockchain
- **Issuance**: A community vote is being prepared on a tokenomics change that would mint new ZIL to compensate holders affected by the 2026 Ledger-app theft
- **Risks and caveats**: Legacy accounts that ever signed through the Zilliqa Ledger app are permanently exposed and must be migrated to Zilliqa EVM.
- **Checked**: 31 October 2026

## Key facts

- **Ticker**: ZIL
- **Official site**: [zilliqa.com](https://www.zilliqa.com/)

Key facts checked on 31 October 2026 against official sources.

## What is Zilliqa

Zilliqa is a public layer-1 blockchain founded in Singapore in 2018, with its mainnet launched in 2019 and its native token ZIL. After the Zilliqa 2.0 upgrade (proof of stake, EVM-compatible), the project describes a new focus on a 'Mediation Layer' that checks identity and policy before a transaction settles, aimed at institutional finance.

## Network and consensus

| Parameter | Details |
|---|---|
| Type | Public layer-1 blockchain |
| Consensus | Proof of stake based on Pipelined Fast-HotStuff (Zilliqa 2.0); mining is no longer used |
| Launched | Mainnet launched in 2019, together with the Scilla smart-contract language |
| Smart contracts | EVM compatibility on mainnet since 2023; original contracts use Scilla |
| Validators | A typical Zilliqa 2.0 mainnet can be run by 32 validator nodes |

## Supply and issuance

| Parameter | Details |
|---|---|
| Issuance | A community vote is being prepared on a tokenomics change that would mint new ZIL to compensate holders affected by the 2026 Ledger-app theft |

## What ZIL is used for

- ZIL pays for products and services on the Zilliqa network, including EVM applications.
- ZIL can be staked to help secure the network and earn rewards.

## Who develops and governs Zilliqa

- **Company**: Zilliqa Group Pte Ltd and related entities (named in the privacy policy, Singapore law)
- **Headquarters**: Founded in Singapore
- **Partner**: LTIN (Liechtenstein Trust Integrity Network), majority-owned by Telecom Liechtenstein, issues identity credentials for the network
- **Governance**: Token-supply changes are put to a community vote on gov.zilliqa.com

## History

| Date | Event |
|---|---|
| 2017 | The Zilliqa whitepaper is published, proposing blockchain scaling through sharding. |
| 2018 | Zilliqa is founded in Singapore and launches its first public testnet. |
| 2019 | Mainnet launches, along with the Scilla smart-contract language. |
| 2020 | Staking launches on mainnet. |
| 2023 | EVM compatibility arrives on mainnet. |
| 2025 | The Zilliqa 2.0 upgrade goes live. |
| 20 July 2026 | Legacy (non-EVM) transactions are disabled after thefts exploiting a signing flaw in the Zilliqa Ledger app; the legacy side is being retired and balances migrated to Zilliqa EVM. |
| 2 September 2026 | A first hard fork migrates exchange balances from legacy addresses to Zilliqa EVM. |

## Security and audits

- In 2026 a nonce flaw in the Zilliqa Ledger app let attackers recover private keys of legacy accounts; the project's post-mortem counts at least 683,130,969.66 ZIL stolen.
- Zilliqa EVM transactions were not exposed by the Ledger-app flaw; legacy accounts are migrated to EVM with a zero-knowledge migration tool.
- In October 2026 X-Bridge and some ZRC2 proxy contracts were affected by a separate incident; X-Bridge is suspended and operational keys are being rotated.
- The mainnet went down on 29 July 2022 after a Scilla crypto-library crash and recovered in under 24 hours.

## Security incidents

| Date | What happened | Source |
|---|---|---|
| 29 July 2022 | Outage: Unplanned mainnet outage: a Scilla built-in function call with an out-of-range parameter crashed the Scilla server on mining nodes; mainnet recovered in under 24 hours. | [blog.zilliqa.com](https://blog.zilliqa.com/network-status-30-07-2022/) |
| 19 July 2026 | Key compromise: A buffer-copy defect in the Zilliqa Ledger app's Schnorr signing let attackers reconstruct private keys of legacy accounts from public signatures. Theft began on 4 March 2026 and was reported by KuCoin on 19 July 2026; at least 683,130,969.66 ZIL were stolen and 6,772 accounts exposed. Legacy transactions were disabled on 20 July 2026. Funds returned: A mint-based compensation is being prepared for a community vote; legal recovery is pursued in parallel. | [zilliqa.com](https://www.zilliqa.com/ledger-incident/post-mortem/) |

Further incidents are reported by third parties (press, incident databases) but are not confirmed in the company’s own channels, so they are not listed here.

## Risks and caveats

- Legacy accounts that ever signed through the Zilliqa Ledger app are permanently exposed and must be migrated to Zilliqa EVM.
- A proposed mint of new ZIL to compensate affected users would change token supply if approved.
- The Mediation Layer, settlement network and vLEI issuer are not yet live, per the project's own FAQ.
- X-Bridge is suspended after the October 2026 incident; affected bridged tokens should not be used until further notice.

## Official links

- Website: [www.zilliqa.com](https://www.zilliqa.com/)
- Docs: [dev.zilliqa.com](https://dev.zilliqa.com/)
- Blog: [blog.zilliqa.com](https://blog.zilliqa.com/)
- Governance forum: [gov.zilliqa.com](https://gov.zilliqa.com/)
- Incident page: [www.zilliqa.com/ledger-incident](https://www.zilliqa.com/ledger-incident/)

## Questions and answers

**What is Zilliqa?**

Zilliqa is a public layer-1 blockchain founded in Singapore in 2018, with mainnet live since 2019. Its native token is ZIL, used for network fees and staking.

**How does Zilliqa work?**

Since the Zilliqa 2.0 upgrade it runs proof of stake based on Pipelined Fast-HotStuff and supports EVM smart contracts alongside the original Scilla language.

**Was Zilliqa hacked?**

In 2026 a flaw in the Zilliqa Ledger app let attackers recover keys of legacy accounts; the post-mortem counts at least 683,130,969.66 ZIL stolen. In October 2026 a separate incident affected X-Bridge, which is suspended.

**What is the Zilliqa Mediation Layer?**

It is the project's planned product that checks both parties' identity and policy before a transaction settles; per the FAQ it is not yet live.

## Sources

- [Zilliqa - About](https://www.zilliqa.com/about/)
- [Zilliqa - FAQ](https://www.zilliqa.com/faq/)
- [Zilliqa Developer Portal - What's new in Zilliqa 2.0](https://dev.zilliqa.com/zilliqa2/changes/)
- [Zilliqa - Ledger incident post-mortem](https://www.zilliqa.com/ledger-incident/post-mortem/)
- [Zilliqa - Ledger incident status](https://www.zilliqa.com/ledger-incident/)
- [Zilliqa Blog - Where We Stand (2 September 2026)](https://blog.zilliqa.com/where-we-stand-migration-progress-the-path-to-compensation-and-getting-back-to-building/)
- [Zilliqa Blog - Network Status Announcement 30/07/2022](https://blog.zilliqa.com/network-status-30-07-2022/)
- [Zilliqa Telegram - Update on the recent security incidents (27 October 2026)](https://t.me/zilliqa/1298)
- [Zilliqa - Privacy policy](https://www.zilliqa.com/privacy-policy/)

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Page updated: 2026-10-31

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Source: https://revain.org/projects/zilliqa/