Zilliqa CEO Steps Down as Board Takes Oversight Amid Security Probe
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Zilliqa said Alexander Zahnd has stepped down as CEO while the project continues looking into security incidents tied to X-Bridge. The bridge remains suspended, the board has taken oversight, and PlunderSwap has reported losses in four token pools.
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What it means
Zilliqa is a layer-1 blockchain with an operations structure that now includes board-level oversight while the project handles a security investigation tied to X-Bridge. The CEO change comes after the platform has already lost a second chief executive since April 2025, and the role is now open without a named replacement.
Users and builders who rely on X-Bridge are facing a suspension that blocks transfers in both directions, which changes how assets can move across the system. PlunderSwap’s report of losses in four token pools adds another layer of operational disruption for people using products connected to Zilliqa’s ecosystem.
The tension here is between keeping bridge infrastructure available and tightening control when security incidents hit a cross-chain product. Zilliqa’s choice to keep X-Bridge suspended while the board steps in shows how much trust in a blockchain can depend on centralized decision-making when a protocol-facing service is under stress.
Still open is the scope of the security incidents, what the investigation will find, and when Zilliqa will name a new CEO or restore X-Bridge. The next concrete milestones are an update on the probe, a decision on leadership succession, and any change in the bridge’s suspended status.
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