What happened with $ZEC this week reminds us that even the strongest tech isn't immune to bugs.
The dev team behind #zcash uncovered a serious vulnerability that had been lurking since 2022 within the largest privacy pool on the network, which could theoretically have been exploited to create unlimited amounts of $ZEC without detection.
This news triggered a massive sell-off, with $ZEC losing about 50% over the past few days.
But:
✅ So far, there's no evidence of the exploit being used.
✅ The total supply of #zec hasn't been affected according to the project team.
✅ Emergency updates have been rolled out and the vulnerability has been fully patched.
However, the incident raised an important question:
Can cryptocurrencies that rely on complete privacy provide enough transparency to prove there's no manipulation or hidden inflation in the supply?
The dev team behind #zcash uncovered a serious vulnerability that had been lurking since 2022 within the largest privacy pool on the network, which could theoretically have been exploited to create unlimited amounts of $ZEC without detection.
This news triggered a massive sell-off, with $ZEC losing about 50% over the past few days.
But:
✅ So far, there's no evidence of the exploit being used.
✅ The total supply of #zec hasn't been affected according to the project team.
✅ Emergency updates have been rolled out and the vulnerability has been fully patched.
However, the incident raised an important question:
Can cryptocurrencies that rely on complete privacy provide enough transparency to prove there's no manipulation or hidden inflation in the supply?