SEED is winding down: what happens next
On October 22, 2026, several PlunderSwap pools holding SEED and other Zilliqa tokens were exploited. Our investigation found that the exploit took place entirely at the Zilliqa network level: the attacker used a vulnerability in how the network itself processes certain token transfers. The flaw was not in the SEED or PlunderSwap smart contracts. The exploit drained most of SEED’s real liquidity and pushed its price down roughly 98%.
The Zilliqa team has confirmed that it will not fix or restore the SEED token, its ZRC-2 contract, or any SEED pools or positions affected by the exploit. In fact, at block 39242024, the Zilliqa team will lock SEED (among other ZRC2 proxy tokens) completely. After reviewing the losses, we’ve concluded that SEED cannot continue in a way that’s fair to its holders, so we are winding the project down.
Register for your reimbursement
Eligible holders can register to receive their share of the reimbursement pool in native USDC on Arbitrum One. Registration is open for 14 days only, and USDC will be sent a few days after it closes.
- Total USDC pool
- 35,535.69 USDC
- USDC per SEED
- 0.00645
- Snapshot
- Block 38,738,522 (October 22, 2026, 21:57 UTC)
- Registration window
- October 30 to November 13, 2026
Connect the same 0x address that held your SEED on Zilliqa EVM. You’ll see your SEED balance at the snapshot and the USDC you’re eligible for. Then choose the Arbitrum One address you want your USDC sent to. It can be the same address or a different one.
Registering is completely gasless. There is no fee of any kind.
Holders who don’t register by November 13, 2026 will not be reimbursed.
Your payout arrives on Arbitrum One. To transfer or sell it afterwards, you’ll need a small amount of ETH on Arbitrum One to cover gas.
What this means for you
Compensation
SEED holders will be reimbursed in USDC from the funds the project has yielded farming off-chain. These funds will be withdrawn and paid out pro rata, in proportion to each holder’s SEED balance at block 38,738,522 (October 22, 2026, 21:57 UTC), the last block before the exploit. Your share is your snapshot balance divided by total eligible SEED.
Payouts are in native USDC on Arbitrum. They are not paid in zUSDC.
This covers SEED held in wallets, staked SEED including accrued rewards, and SEED held in PlunderSwap liquidity positions. The total pool is 35,535.69 USDC, which works out to 0.00645 USDC per SEED.
SEED acquired after the snapshot is not covered. DO NOT purchase SEED expecting reimbursement.
Liquidity providers
If you had a position in any of the SEED pools, the SEED portion of your position at the snapshot is included in the USDC reimbursement. The other token in the pair is not covered by this reimbursement; please contact the Zilliqa team concerning this.
Beware of scams
We will never DM you first, ask for your seed phrase or private keys, or ask you to send tokens or pay a fee to receive USDC. Registration is free and gasless, so anyone asking you to pay is a scammer. The only official claim site is https://claim.kalijo.io/. Official updates come only through our X account (@Kalijo_Zil) and Telegram (t.me/KalijoSEED).
Technical details
Because the vulnerability lies in the Zilliqa network itself, the Zilliqa team is the right source for any technical explanation of how the exploit worked. Please direct technical questions to Zilliqa.
SEED was built by and for this community, and this isn’t the ending we wanted. Thank you for your support. We’ll keep you updated as each step is confirmed.
FAQ
How much will I get?
0.00645 USDC per SEED your address held at the pre-exploit snapshot, paid from a total pool of 35,535.69 USDC. Connect your wallet on claim.kalijo.io to see your exact amount.
How do I claim?
Register on claim.kalijo.io between October 30 and November 13, 2026. Connect the 0x address that held your SEED on Zilliqa EVM, check your snapshot balance and USDC amount, then choose the Arbitrum One address to be paid to.
Does registering cost anything?
No. Registration is completely gasless and there is no fee of any kind. Anyone asking you to pay is a scammer.
Do I need ETH on Arbitrum?
Not to register or receive your USDC. To transfer or sell it afterwards, you’ll need a small amount of ETH on Arbitrum One to cover gas.
Is it zUSDC?
No. Payouts are native USDC on Arbitrum.
Will I get back what my SEED was worth before the exploit?
Not necessarily. Reimbursement comes from a fixed pool of funds split across all eligible holders, so the amount depends on the size of that pool, not on SEED’s old price.
Will Zilliqa restore SEED or the SEED pools?
No. The Zilliqa team has confirmed it will not fix or restore the SEED token, its ZRC-2 contract, or any SEED pools or positions.
Which wallet will I be paid to?
You choose: register any Arbitrum address you control on the claims site. It’s prefilled with your Zilliqa EVM address, which works on Arbitrum too. Don’t use an exchange deposit address.
Is my SEED worth anything now?
Reimbursement is based on your balance at the pre-exploit snapshot, not today’s price.
Was PlunderSwap hacked?
No. The exploit took place entirely at the Zilliqa network level, not in PlunderSwap’s or SEED’s contracts.
How did it happen?
The vulnerability is in the Zilliqa network itself, so the Zilliqa team is the right source for the technical explanation. Please direct technical questions to them.
Can you at least give us the basics?
The exploit was entirely at the Zilliqa network level, so the technical explanation needs to come from the Zilliqa team.
I bought SEED after the exploit. Am I covered?
No. Reimbursement is based on balances at the pre-exploit snapshot only.
Can I pull my liquidity?
The SEED portion of your position at the snapshot will be reimbursed in the USDC payout. The other token in the pair is not covered by this reimbursement, so please contact the Zilliqa team about it.
When can I register?
Registration is open for 14 days only, from October 30 to November 13, 2026, on claim.kalijo.io. Ignore anyone who DMs you about claims or asks for a fee.
When do I get paid?
USDC will be sent to your registered Arbitrum One address a few days after registration closes on November 13, 2026.
What if I miss the registration deadline?
Holders who don’t register by November 13, 2026 will not be reimbursed. Make sure you register within the 14-day window.
Why can’t SEED or the pools just be restored?
Only a chain rollback would fully undo the exploit, and Zilliqa has confirmed this is not the direction they are taking. Refilling the restored pools from the Zilliqa treasury was ruled out because the stolen tokens could drain them again. Also restoring SEED balances was ruled out because it would mean clawing tokens back from users and leave the on-chain record permanently wrong. Winding SEED down and reimbursing holders is the fairest path left.