In a notable leadership shift, Matt Dyer has stepped down as CEO of Zilliqa Technology, according to an official announcement from the company. The decision comes just two months after the protocol faced a critical exploit on its cross-chain X-Bridge platform and as the team now intensifies efforts toward the upcoming Zilliqa 2.0 network upgrade.
“Zilliqa announces with regret that Matt Dyer has stepped down from his role as Chief Executive Officer of Zilliqa Technology. We extend our gratitude for his contributions and wish him success in his future endeavours,” the project shared on X (formerly Twitter).
Interim Leadership and Strategic Refocus
The Zilliqa team stated that internal leadership will handle daily operations during the transition phase, emphasizing that a new long-term leadership strategy will be revealed after the successful deployment of Zilliqa 2.0.
“Our primary focus remains on the successful delivery of the enhanced Zilliqa 2.0 network, in alignment with our updated roadmap and timeline,” the team added.
No specific reasons were cited for Dyer’s departure, but the company framed the move as a step toward realigning leadership with the project’s future goals.
Recent Turbulence: The X-Bridge Exploit
Dyer’s exit follows a challenging few months for Zilliqa. In early February 2025, the project suffered a critical exploit on its X-Bridge, which allowed attackers to mint bridged versions of assets — including zETH and zBNB — without properly locking collateral on Ethereum and BNB Chain.
In response, Zilliqa shut down the relayer, paused affected contracts, and deployed replacements to mitigate risk and restore stability. Although the exploit didn’t result in an immediate crash of the ZIL token, it further eroded investor confidence. ZIL has declined over 90% from its all-time high in 2021, according to crypto.news price data.
What’s Next?
The network’s development team remains committed to delivering Zilliqa 2.0 — a major upgrade promising increased scalability, modular architecture, and enhanced smart contract functionality. The roadmap for this upgrade is seen as pivotal in restoring user and developer trust after recent setbacks.
As the team works toward this transition, the crypto community will be watching closely for leadership updates and technical milestones that may shape Zilliqa’s trajectory in 2025 and beyond.
