So a security researcher found a bug in Zcash a few weeks ago while auditing the protocol.

The bug had been sitting inside Zcash's Orchard shielded pool since 2022, and it could have allowed anyone to create unlimited fake $ZEC inside the private pool without anyone noticing.
Zcash immediately fixed the issue by temporarily pausing Orchard activity and then deploying a hard fork.
Now, while there's no evidence of exploitation, there's also no way to prove that nobody used the bug before it was patched.
As a result, $ZEC nuked more than 40% in one day and roughly 50% from recent highs.
Arthur Hayes dumped his entire bag too.
His take was basically that the whole privacy thesis only works when it's bulletproof. Even if the chances of abuse were tiny, the fact that it couldn't be ruled out was enough for him to exit.
Consequently, other solid privacy plays started dumping hard.
Don't be a fool to sell your gems because of sth the entire market will get over in a week.
Also, if you've been looking to get into $ZEC, prices are looking juicy.
Privacy is a narrative that can never die. Be smart.