Binance to support Zilliqa EVM for ZIL deposits as legacy network is retired

Binance announced that it will migrate ZIL tokens from Zilliqa’s legacy mainnet to the Zilliqa EVM network at a 1:1 ratio. The exchange will handle the technical process for users holding ZIL on its platform, and future deposits and withdrawals will be processed exclusively through the EVM network.

Background of the migration

The migration follows a vulnerability in Zilliqa’s Ledger application that left 6,772 accounts exposed and resulted in the theft of at least 683.13 million ZIL across 66 transactions. The flaw affected Schnorr‑based signatures on the legacy transaction system, prompting Zilliqa to retire that system and move all activity to its EVM‑compatible environment.

Binance’s implementation

• Legacy Zilliqa deposits and withdrawals have been suspended on Binance since August 5, 01:00 UTC.
• Once the migration is complete, Binance will open ZIL deposits and withdrawals through Zilliqa EVM without a separate announcement.
• Spot, margin, futures trading and Binance Earn products involving ZIL will remain available throughout the process.

Migration process for other holders

Zilliqa is also providing a zero‑knowledge‑proof (ZKP) based migration tool for self‑custody users. The tool allows holders to prove ownership of a legacy address and transfer the balance to an EVM address without revealing private keys. The audit of this tool has been completed and rollout was targeted for September 22.

Broader network transition

Zilliqa’s shift to an EVM‑only production environment began with the Zilliqa 2.0 upgrade in June 2025, which introduced proof‑of‑stake consensus and full Ethereum compatibility. The recent security incident accelerated the decision to retire the legacy Schnorr transaction stack, which had become a development and security liability.

Impact on stolen funds

Balances that were stolen in the Ledger incident are being handled separately. Zilliqa is working with exchanges and law enforcement to trace and recover the assets, and a community governance proposal may consider token‑supply changes to compensate affected holders.