An infinite money-printing loophole that went unnoticed for four years; the drop in ZEC is quite modest. The supply audit mechanism should be completely overhauled.

CoinWorld News reports that MaelstromFund Chief Investment Officer Arthur Hayes has fully liquidated all of his Zcash (ZEC) holdings after a developer disclosed a potential critical vulnerability in the Zcash network Orchard pool. Hayes said that although he believes any minting activity is extremely unlikely, he cannot cryptographically prove that it is impossible. The vulnerability was disclosed by Shielded Labs, which said that a major issue had not been discovered for the past four years and could allow hackers to print an unlimited number of forged tokens, damaging trust in the cryptocurrency’s supply and its value. After the announcement, the token fell sharply, dropping 42% within 24 hours. Hayes also mentioned that if the assumption proves to be wrong, he would buy ZEC again, hoping to enter at a lower price.