Privacy Coins
Zcash price falls after Orchard bug disclosure
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Zcash token ZEC dropped sharply after developers disclosed a vulnerability in the Orchard shielded pool that could have allowed undetected counterfeiting of tokens. The flaw, present since 2022, was found on May 29 using an AI model and patched by June 1. No evidence of exploitation was found, though privacy features prevent cryptographic proof.
Zcash has gained 37 percent after multicap capital disclosed a significant position in the privacy-focused cryptocurrency. The move comes amid broader interest in assets that offer protection from wealth seizure risks.
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Bitcoin has stalled below the $92,000 mark, while privacy-focused cryptocurrencies like Monero, Zcash, and Railgun see gains. Traders appear to be shifting investments toward these assets amid stagnant performance from bitcoin and ether. Crypto mining stocks are surging in response to news about Meta's AI developments.