Regarding ZEC privacy addresses (starting with zs) deposit and withdrawal issues, I recently got stuck in this trap as well. Zcash claims to have top-tier privacy features, but when it comes to actual operations, the problems arise.

The specific situation is as follows: I wanted to transfer ZEC from a major exchange to a Zcash wallet, but I found that privacy addresses are not recognized at all. After several attempts, I kept getting network recognition failure messages, and I finally realized that the platform only accepts t-addresses (transparent addresses). This is quite awkward—the privacy addresses are supposed to be ZEC's main selling point, but major platforms don't support them.

The reason behind this, I summarized later: exchanges, for compliance reasons, need to be able to trace fund flows, and privacy addresses precisely hide transaction information, which directly conflicts with the platform's risk control requirements. So they simply only provide transparent address interfaces to avoid this issue.

If you really want to use privacy addresses, the current workaround is: first transfer ZEC to your own Zcash wallet (using a transparent address), then perform an internal shielded transfer within the wallet. Only then can you enjoy privacy protection. But this is obviously less convenient than directly transferring to a privacy address from the platform.

This also reflects a real contradiction—the on-chain privacy and the compliance requirements of centralized platforms are always in conflict.