Zilliqa Technology has announced the departure of its CEO, Matt Dyer, marking a leadership shift as the blockchain firm intensifies efforts to roll out its next major upgrade—Zilliqa 2.0.
The company shared the news via an X post on Tuesday, stating that internal leadership will take charge during the interim as development on the upgraded network continues.
While no specific reason was given for Dyer’s exit, Zilliqa hinted that a long-term leadership strategy will be unveiled following the network’s transition.
“We extend our gratitude for his contributions and wish him success in his future endeavours,”
the statement added.
Dyer’s departure follows a rocky start to the year for Zilliqa. In February, the network suffered a serious exploit on its cross-chain X-Bridge, which facilitates asset transfers between Ethereum and BNB Chain. The vulnerability allowed bad actors to mint bridged tokens—zETH and zBNB—without securing equivalent assets on the connected networks. In response, the team swiftly shut down the relayer, paused token manager contracts, and introduced new versions of the affected tokens.
Though the breach did not trigger an immediate crash, the ZIL token has continued its downward trend. It currently trades over 90% below its 2021 all-time high, according to data from CoinMarketCap.
Despite the challenges, Zilliqa remains committed to its future roadmap. The team emphasized that delivering the Zilliqa 2.0 network upgrade remains their top priority as they aim to restore confidence and drive long-term growth.
Meanwhile, this follows the recent announcement that Argo Block chain CEO Thomas Chippas will step down on February 28, less than a year after joining in November 2023. MacCallum has already assumed the role of interim CEO while the company searches for a permanent replacement.
During his tenure, Chippas took steps to strengthen Argo’s financial position, including early repayment of a loan to Galaxy Digital.
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