Illustration of Zcash network upgrade with blockchain elements and block explorer issues.
Illustration of Zcash network upgrade with blockchain elements and block explorer issues.
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Zcash completes network upgrade after block explorer issues

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Zcash activated a major network upgrade on June 3 that briefly caused block explorers to show no new blocks. Developers also suspended Orchard transactions to fix a privacy pool bug.

The Zcash blockchain upgrade took place at block 3,364,600. Many block explorers failed to update their nodes immediately, creating the appearance that no new blocks were produced for more than four hours after 5:27 AM UTC. Josh Swihart, CEO of ZODL, said the issue stemmed from explorers still watching the old chain while miners moved to the upgraded version. Mert Mumtaz of Helius confirmed the same explanation. Separately, Zcash developers paused Orchard transactions to address a vulnerability that could have allowed double-spending in the privacy pool. No exploitation occurred. ZEC rose 8 percent over the past week and 46 percent over the past month.

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Users and developers on X discussed Zcash's June 3 network upgrade to patch an Orchard pool vulnerability, clarifying that block explorers lagged due to node updates while the chain continued operating. Sentiments included relief over the swift fix with no exploitation, neutral explanations of events, and some skepticism about privacy protocol complexities and potential risks.

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Illustration of Zcash price drop after Orchard vulnerability disclosure showing cracked shield and falling chart
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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 recovered about 45 percent from its recent low after developers proposed the Ironwood upgrade to address a supply verification issue. The privacy-focused cryptocurrency traded near $437 on Monday, though it remains down 22 percent for the week. The move comes after a patched bug in the Orchard pool triggered last week's sell-off.

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Security engineer Taylor Hornby used an AI model to identify a critical vulnerability in the Zcash cryptocurrency that had remained undetected since 2022. The flaw could have permitted unlimited creation of counterfeit tokens. Hornby has now added Monero to his list of planned audits.

Thorchain confirmed a suspected multichain exploit on May 15 that drained about $10 million from users across several networks. The protocol activated emergency halts and has now launched a recovery portal for affected wallets.

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Bitcoin dropped below 60000 on June 5 amid stronger than expected US jobs figures and ongoing capital shifts toward AI.

A private key compromise led to a drain of more than $520,000 from a Polymarket-linked wallet on the Polygon blockchain on May 22. The prediction market platform confirmed that user funds and core contracts remained unaffected.

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