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Zcash founder discloses vulnerability, ZEC price plummets nearly 30%
The vulnerability has existed since May 2022, was discovered on May 29, and fixed on June 1.
Following the disclosure, the price of ZEC plummeted nearly 30%, and investors expressed concerns about the potential impact on this privacy coin.
Zooko stated that attackers could exploit the vulnerability to mint unlimited ZEC in Orchard.
Although the team fixed the issue before any evidence of abuse was found, Zcash's privacy design makes it impossible to verify whether anyone exploited the vulnerability in the past.
Crypto researcher Hupzy described this incident as a major trust event, believing investors are in a difficult position because no one can independently verify the integrity of the supply.