ZEC Falls After Disclosure of Patched Zcash Orchard Vulnerability
Shielded Labs said the flaw could have let attackers create unlimited counterfeit ZEC, and the token shed $3.8 billion in market value.
- Zcash plummeted more than 40% in the past 24 hours, shedding $3.8 billion in market capitalization after Shielded Labs disclosed a vulnerability in Orchard that has since been patched.
- Security researcher Taylor Hornby identified the flaw using Anthropic's Opus 4.8 model, uncovering the vulnerability that remained undetected within Orchard's shielded pool since 2022.
- Data from CoinGlass shows $120 million in liquidations over the last day, with over 61% from long positions, as BitMex cofounder Arthur Hayes, CIO of Maelstrom, dumped his entire Zcash holdings.
- Shielded Labs is evaluating a network upgrade to enable public verification of the Zcash token supply, though Orchard's privacy properties make it impossible to cryptographically prove whether the vulnerability was exploited before patching.
- Recent decentralized finance attacks—including KelpDAO's $290 million exploit and Drift's $270 million hack—underscore rising security risks, as Anthropic noted its Claude Mythos Preview AI can identify high-severity vulnerabilities "in every major operating system.
29 Articles
29 Articles
Security experts warn advanced AI is about to spark a hacking crisis for both crypto and banks
After an AI model helped uncover a four-year-old flaw in Zcash, security researchers warn that similar bugs may be hiding across crypto and traditional financial systems.
ZEC Crashes As Zcash Admits ‘Critical Counterfeiting Vulnerability’ Exposed By Claude
ZEC Crashes As Zcash Admits ‘Critical Counterfeiting Vulnerability’ Exposed By Claude Authored by Martin Young via CoinTelegraph.com, The price of ZEC fell on Thursday after further details were disclosed of a critical counterfeiting vulnerability in Zcash’s Orchard pool that could theoretically allow a bad actor to mint an unlimited amount of ZEC. According to a...
ZEC Falls After Disclosure of Patched Zcash Orchard Vulnerability
ZEC fell on Thursday after the disclosure of a flaw in Zcash’s Orchard circuit that would have allowed unlimited counterfeit ZEC minting with no way to cryptographically prove prior exploitation.
Taylor Hornby, the security engineer behind the critical security vulnerability recently discovered in Zcash, has announced plans to expand his auditing efforts. Hornby stated that he will be adding Monero (XMR) and other privacy-focused networks to his list of privacy-oriented cryptocurrency projects under investigation. Hornby was commissioned by the non-profit development organization Shielded Labs on May 29th to oversee these investigations.…
Coverage Details
Bias Distribution
- 40% of the sources are Center, 40% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
