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ZetaChain Freezes Cross-Chain Moves After GatewayEVM Contract Attack

Colombia’s Biggest Pension Fund Adds Bitcoin Through BlackRock IBIT Colombia’s biggest pension fund Porvenir adds Bitcoin exposure through BlackRock IBIT, giving savers a regulated new crypto investment option. Colombia’s largest pension fund manager, Porvenir, has entered the Bitcoin market through a new investment product. The fund provides indirect exposure to Bitcoin via BlackRock's IBIT exchange-traded fund. So, Colombian investors now have another regulated option to invest in digital assets. This is part of a global trend towards institutional adoption. Latin America Sees 64% Annual Crypto Growth The news was unveiled at the Asofondos Annual Congress in Cartagena on April 22, 2026. Therefore, the decision gained attention across Colombia’s financial sector. Industry leaders viewed the step as part of a broader shift toward modern investment choices. Further, rapid cryptocurrency adoption is occurring in Latin America. Related Reading: Bitcoin News: Australian Pension Giant Looks at Bitcoin Investment | Live Bitcoin News According to market figures, cryptocurrency use in Latin America grew 64% yearly. There are now 79 million users. The growth has prompted financial companies to act. Retirement managers now seek products to meet evolving investor needs, particularly among younger people. Porvenir President Miguel Largacha Martínez said they want to provide safe and easy options. He explained that many customers aged 18-45 want diversification. So, the company created a product that combines innovation and managed investing. This strategy could appeal to new cryptocurrency users. How the New Bitcoin Pension Product Works The Crypto Porvenir Portfolio does not involve purchasing Bitcoin. Rather, funds are invested in BlackRock's IBIT ETF, which mirrors Bitcoin's price. As a result, users can get exposure to the price without managing private keys or exchange accounts. This may lower the technical entry barrier. The minimum investment is COP 100,000 ($25). So, smaller investors can participate. This could attract more people. Other investment products may have higher minimum investments. BlackRock's IBIT is one of the world's largest Bitcoin investment products. It is reported to have over $50 billion in assets under management. As a result, it is seen as a safe choice by many institutions. Fund size can also enhance liquidity and trading opportunities. But the structure doesn't eliminate market risk. Investors avoid problems such as hacking and lost passwords, but Bitcoin prices can still decline. So, returns can increase or decrease with market fluctuations. Pension Firms Use Bitcoin as Diversification Tool Porvenir is not alone in offering crypto products in Colombia. Protección and Skandia have already offered such products. So, there is more competition in this space. Pension companies now seem more willing to embrace digital assets. Protección has said Bitcoin should be used for long-term diversification. It shouldn't be used for short-term gains. This is a conservative industry message. Managers want investors to focus on more than short-term price fluctuations. According to Juan David Correa, president of Protección, diversification is still the key. For this reason, these products are located in voluntary pension plans. These plans allow for additional savings at the user's discretion. They are not compulsory retirement schemes. Voluntary pension accounts may be used for long-term purposes. For instance, they can save for retirement, education, or investments. So, a Bitcoin option makes sense for those looking for diversification. However, investment choices should align with risk preferences. Meanwhile, compulsory pension savings are not affected by these cryptocurrency products. The main pension system in Colombia remains focused on security. So, riskier assets remain outside the core pension system. The Porvenir launch could spur other Latin American companies. With growing demand, more regulated Bitcoin products may emerge. And international asset managers such as BlackRock could become more active. ZetaChain paused cross-chain transactions after GatewayEVM attack, saying user funds stayed safe while investigations and security fixes continue.
ZetaChain Freezes Cross-Chain Moves After GatewayEVM Contract Attack Source: Live Bitcoin News
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ZetaChain paused cross-chain transactions after GatewayEVM contract attack, saying user funds stayed safe while investigations and security fixes continue.

ZetaChain temporarily stopped cross-chain transactions after a contract attack. The project claimed only team wallets were compromised. The attack did not affect user funds. And the team swiftly shut down the attack vector. Now the team is investigating the incident.

ZetaChain said the hackers attacked the GatewayEVM contract. This contract is used to transfer assets across chains. So, the problem was severe and needed to be addressed. But the company emphasised that users’ assets were secure.

GatewayEVM Contract Plays Key Role in Network

GatewayEVM is a key component of ZetaChain. It is a bridge between blockchains. For instance, it connects to Ethereum and Polygon. It is used to transfer tokens. So, any vulnerability can pose significant risks.

The contract also processes inbound transactions. Moreover, assets such as ETH can be locked first. And then equivalent tokens are minted on ZetaChain. Similarly, users can withdraw them later. As such, the contract is a critical part of the network.

Related Reading: April 2026 Crypto Hacks Hit $620M as Bridge Failures and Admin Exploits Dominate Attacks | Live Bitcoin News 

Further, GatewayEVM also supports cross-chain contract calls. These calls enable apps on one blockchain to call apps on another. This is helpful for developers and users. But it also adds to the complexity. So, security is crucial.

SlowMist, a blockchain security company, has reported an early vulnerability. The problem was related to the call function of the GatewayZEVM contract. SlowMist reported the function did not have access control. It also reportedly did not have input validation.

As a result, any user could have initiated malicious cross-chain calls. Then, a relayer system executed the calls. After that, the calls were processed on the target chains. This allowed the hacker to withdraw funds from the wallets.

ZetaChain Pauses Transfers During Contract Attack Investigation

ZetaChain claimed the attack only affected team wallets. The attack did not affect user funds. This is critical because users are often concerned about substantial losses. So far, the project claims user funds are safe.

The team also said the attack vector was shut down rapidly. So no further funds are likely to be stolen. The quick response likely minimised the impact. But a review is still underway before services resume.

To be safe, cross-chain transfers were halted. This stops further unauthorised transfers while the problem is fixed. Pausing services is common in hacks. While frustrating, it can save the network.

There may be some delays for inter-chain transfers. But caution is normal after security breaches. Services are typically tested before being restarted. As a result, the service may only restart after the tests are done.

ZetaChain will release a post-mortem report soon. This will describe the incident and how it was resolved. It may also contain security improvements. This can help regain consumer confidence.

Moreover, the attack highlights the dangers of bridge technology. Bridge technology links blockchains together. But they also open new doors for hackers. So, audits and controls are still needed.

There have been other attacks on bridges in the broader crypto industry. These incidents serve as a reminder for projects to enhance code security. Users should always follow official announcements. In the meantime, ZetaChain is investigating and recovering.

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