Zilliqa CEO Steps Down Amid Transition to Zilliqa 2.0
Matt Dyer, CEO of Zilliqa Technology, has officially stepped down, according to a recent announcement from the company. The decision comes as the Zilliqa team focuses on rolling out Zilliqa 2.0 – a major upgrade aimed at improving the network’s performance and scalability.
Steps Down Following Serious X-Bridge Exploit
Dyer’s departure comes just two months after a major security incident involving X-Bridge, the cross-chain bridge between Ethereum and the Zilliqa ecosystem’s BNB Chain.
In early February, Zilliqa discovered a critical vulnerability that allowed attackers to mint bridge tokens without locking up the original assets, potentially disrupting the supply-demand balance between the networks. The development team then disabled the relayer, paused the relevant contracts, and deployed new versions of the zETH and zBNB contracts to fix the problem.
ZIL Price Continues to Be Under Pressure
While the incident did not cause an immediate network outage, it did significantly reduce market confidence. The ZIL token is currently trading 90% below its 2021 all-time high, according to data from Crypto.News. This is considered one of the most difficult periods that Zilliqa has ever faced, both technically and strategically.
Focus on Zilliqa 2.0 – A New Era for the Network
In the official announcement, the Zilliqa team affirmed that they remain committed to the development of the network, emphasizing that the current focus is on ensuring the successful deployment of Zilliqa 2.0 according to the announced schedule. This is an upgrade that aims to improve the scalability, flexibility, and security of the ecosystem.
“We are fully focused on realizing Zilliqa 2.0 – a strategic step forward for the future of the network,” the team representative shared.
Farewell to one chapter, open a new one
Matt Dyer has been the face of many efforts to expand cooperation and develop the Zilliqa ecosystem in the post-2021 period. His departure, although leaving a leadership gap, also marks a clear transition of Zilliqa into a new chapter, where technology and security are top priorities.
There has been no official announcement about the successor to the CEO position, however, the Zilliqa community is placing high expectations on the recovery and reshaping of the network in 2025 with the Zilliqa 2.0 version.
