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Analyst: Zcash plummeted 45% due to a critical vulnerability

CoinNetwork
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CryptoWorld News reports that Zcash plummeted about 45% on Friday, dropping to $309 after researchers disclosed a critical vulnerability in its Orchard transaction pool. The flaw could enable unlimited counterfeit token creation, discovered by security researcher Taylor Hornby during an audit at Shielded Labs. The vulnerability exists within the Orchard circuit, allowing unconstrained input values in elliptic curve calculations, enabling researchers to generate undetectable counterfeit ZEC. The flaw has been present since its activation in May 2022 and was fixed on June 1st. Despite the severity, Shielded Labs stated there is no evidence that the vulnerability has been exploited in practice. The ZEC/USD 4-hour chart shows a bearish trend, with an RSI of 33, indicating oversold conditions. If the sell-off continues, ZEC could break below $245 and retest the psychological $200 level. A rebound above $300 would suggest the sell-off may be ending, and if bulls regain control, ZEC could rise to the key resistance level at $413.
ZEC-39.34%
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ExitLiquidityBuddy
· 6h ago
A 45% crash—looks like holders’ sentiment is breaking down, right? 200 to see?
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QuantitativeButNotPretentious
· 6h ago
The Orchard vulnerability was hidden for two years before it was fixed—are audits of privacy coins actually reliable?
View OriginalReply0

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