News linked to both this project and an event.
According to official announcements, Zcash has officially activated the Ironwood NU6.3 network upgrade at mainnet block height 3,428,143 and launched the new shielded pool Ironwood. This upgrade aims to address the previously discovered Orchard soundness vulnerability, improve protocol security, and enhance the independent verifiability of ZEC circulating supply integrity.
: According to on-chain detective Specter’s monitoring, B² Network may have suffered a vulnerability exploit on BNB Chain. The attacker transferred 8.591 million B2, worth $3.86 million, and exchanged them for 5,409 WBNB, worth $3.11 million. The funds were then bridged to Ethereum, and are currently being transferred to Zcash via NEAR Intents. The addresses used for the theft are 0xEc443f7D79835B464FBEAC798d3f92B62d6Ff433 and 0xf977427Ec8e583C55D413061FC205BCD57e8Bf6D.
According to on-chain analyst Specter, B² Network on BNB Chain suffered a hack, resulting in a loss of approximately 8.591 million B2 tokens (approximately $3.86 million). The attacker swapped them for 5409 WBNB (approximately $3.11 million) and bridged to Ethereum, and is currently transferring the funds to Zcash via NEAR Intents.
: Tushar Jain, Managing Partner of Multicoin Capital, stated that the crypto market has bottomed out and entered a turning point. Market sentiment has truly hit rock bottom, recent major hacking incidents and other news have not triggered large-scale sell-offs, application adoption rates continue to rise, and there is a decoupling between price and fundamentals. He maintains a long-term bullish outlook on Solana, believing SOL represents the correct architecture for spot trading and tokenized securities. Simultaneously, he is bullish on Hyperliquid's leading position in the derivatives space and currently holds significant positions in both.Regarding ZEC, he stated that Multicoin has accumulated a considerable proportion of its supply and believes it represents the industry's return to "cypherpunk" values, with the potential to enter the top five by market cap. In terms of position management, he adopts a "three-way split" strategy: immediately buying the first third, dollar-cost averaging the second third, and reserving the final third as flexible capital to cope with significant market downturns. During the Zcash code vulnerability incident, after the team observed and confirmed no hacker exploitation, they significantly increased their positions.
Odaily Zcash's native token ZEC rose over 12% on Tuesday after the team responsible for developing its privacy pool said it is nearing completion of a mathematical proof to confirm that there are no undetectable counterfeit minting vulnerabilities in the latest Zcash shielded pool.The verification work, driven by Project Tachyon, is aimed at Zcash's upcoming Ironwood shielded pool. Zcash founder Zooko Wilcox stated that the project is on the verge of producing a mathematical proof, with the goal of proving that the latest Zcash privacy pool has no undetectable minting vulnerabilities.This development follows the disclosure last month of a serious counterfeit vulnerability in the Zcash Orchard shielded pool. At the time, the flaw sparked market concerns about the potential for undiscoverable, hidden inflation risks within Zcash's privacy system, causing ZEC to drop by over 40% within two days.Developers say that with the help of AI-assisted formal verification, proof work that previously might have taken years has now been compressed to a few weeks. The news pushed ZEC back above $500, its highest level since early June. (The Block)
the Zcash development team announced plans to introduce formal verification through the upcoming new privacy pool Ironwood, using mathematical proof methods to eliminate the risk of "Undetectable Counterfeiting."Previously, although the vulnerability in the Orchard shielded pool has been fixed and there is no evidence of exploitation, the community decided to launch a completely new Ironwood shielded pool and perform comprehensive formal verification on its protocol, as it is theoretically impossible to confirm through on-chain history whether covert counterfeiting has occurred.
Odaily Zcash founder Zooko Wilcox posted on X stating that a security audit conducted by Anthropic's Claude Mythos AI model did not find any "more severe vulnerabilities" in the Zcash protocol. The audit was commissioned by Shielded Labs, a Swiss non-profit organization supporting Zcash development. On June 3, Zcash developers temporarily paused Orchard transactions after discovering a vulnerability in the shielded pool, restoring functionality through an emergency upgrade the same day. The issue stemmed from a four-year-old forging vulnerability in the Orchard shielded pool, identified by security researcher Taylor Hornby with the assistance of Anthropic's Claude Opus 4.8 model. The Zcash Foundation stated there is no evidence that the vulnerability was exploited, nor was any unauthorized value creation detected, and user privacy remained unaffected.Anthropic released the first public version of the Claude Mythos model, Fable 5, on Tuesday, and stated on Friday that it has suspended access to the Fable 5 and Mythos 5 AI models due to export control directives issued by the U.S. government citing national security concerns. (Cointelegraph)
According to Cointelegraph, Zcash founder Zooko Wilcox stated that a security audit of the Zcash protocol—commissioned by Shielded Labs and conducted using Anthropic’s Mythos AI model—did not uncover any new critical vulnerabilities. Previously, security researcher Taylor Hornby discovered, using Claude Opus 4.8, a four-year-old forgery vulnerability in the Orchard shielded pool, prompting developers to urgently suspend Orchard transactions on June 3 and complete the fix the same day. The Zcash Foundation confirmed there is no evidence the vulnerability was ever exploited, and user privacy remained unaffected.
Zcash founder Zooko posted on X, stating that at the request of Shielded Labs, Anthropic and Mythos conducted a security audit of Zcash, and no further critical vulnerabilities were found in the Zcash protocol. Shielded Labs and other parties are continuing to carry out security reinforcement efforts.
According to a post by Zcash co-founder Zooko (@zooko), Anthropic, in collaboration with Mythos, conducted a security audit of the Zcash protocol at the request of Shielded Labs. The audit found no critical vulnerabilities. Shielded Labs and related teams are continuing their efforts to strengthen security, and further updates will be announced separately.
Odaily News, June 9th — BitMEX co-founder Arthur Hayes stated in his latest article "Reality Test" that if oil prices continue to rise due to the US-Iran conflict, it could trigger a collapse of the AI stock bubble and drag the entire crypto market down.Hayes said that if traffic restrictions in the Strait of Hormuz persist deep into the second quarter, spot prices for hydrocarbons and other key commodities could rise in the third quarter. If oil prices continue to climb and inflationary pressures impact the US midterm elections, Trump might pivot to a tough stance targeting data center construction, AI regulation, and taxation. Hayes believes the market could anticipate Trump limiting AI capital expenditure and taxing AI companies, thereby triggering the burst of the AI stock bubble.Hayes also noted that since November 2022, the scale of AI-related debt issuance has been approximately $1.5 trillion, and US M2 has increased by roughly the same amount during the same period. He believes the three factors that could pop the AI bubble include rising energy costs, the market's inability to absorb three major AI-related IPOs — namely SpaceX, Anthropic, and OpenAI — and Trump's shift to opposing AI. In terms of portfolio, Hayes stated that Maelstrom's stock portfolio holds significant positions in US-listed energy producers; he has sold AI-related stocks and offloaded non-core crypto assets, having dumped HYPE, NEAR, and WLD last week, as well as selling ZEC due to the Orchard Pool vulnerability. He still holds Bitcoin and ETH and will execute tactical short trades via derivatives.
Odaily Seer monitoring shows that Polymarket has launched a new prediction event titled "Was Zcash's Orchard privacy pool confirmed to have been exploited?"On June 4, Zcash's core development team revealed that they had deployed an emergency network upgrade to fix a critical cryptographic vulnerability in the Orchard privacy pool. This flaw could have potentially allowed a malicious attacker to arbitrarily forge unlimited amounts of ZEC. Due to the vulnerability's characteristic that "it is impossible to cryptographically prove whether it was exploited in the past," independent support organization Shielded Labs subsequently proposed on June 5 to deploy a new privacy pool during the NU7 upgrade at the end of July. They also suggested implementing strict "Turnstile-accounting" audits for tokens exiting Orchard to investigate whether any forged tokens exist. According to the settlement rules for this prediction event, if before December 31, 2026, official sources or mainstream credible media confirm that the vulnerability was effectively exploited on the mainnet before being patched, the event will settle as YES.Odaily Seer continues to monitor prediction markets, seeing changes before pricing.
Odaily Seer Prophet Channel monitoring shows that the probability of "Zcash will hit $100 in 2026" on Polymarket has risen to 53%, a 24-hour increase of 36%.Market rules: If between 17:35 on November 24, 2025, and 23:59 on December 31, 2026 (Eastern Time), the lowest price (Low) of any 1-minute candlestick of the Binance ZEC/USDT trading pair reaches or falls below the price stated in the title, this market will immediately settle as "Yes"; otherwise, it will settle as "No." Settlement is based solely on the 1-minute candlestick data of the Binance ZEC/USDT trading pair; prices from other exchanges or trading pairs will not be considered.In previous news, the privacy coin Zcash disclosed and fixed a critical security vulnerability that could have been exploited by malicious miners to transfer over 25,000 ZEC (approximately $6.5 million) from the deprecated Sprout privacy pool. Officials stated that the vulnerability had existed since July 2020 but was not actually exploited, and user funds remained safe at all times. The development team has released version v6.12.0 to complete the fix, and major mining pools have already upgraded their deployments.Odaily Seer Prophet Channel continues to monitor prediction markets, seeing changes before pricing.
Haseeb, Managing Partner at Dragonfly, has addressed the recently patched Zcash vulnerability, stating that there are many misconceptions in the market regarding the incident. He pointed out that even if the vulnerability had been exploited before the fix, an attacker could only profit by forging ZEC within the shielded pool. For these tokens to enter mainstream trading platforms, they would first need to be converted from shielded addresses to transparent addresses. Since the supply of ZEC in transparent addresses is publicly verifiable, any abnormal transfers exceeding the maximum supply would be detected and blocked. Therefore, the vast majority of investors and exchange users holding transparent ZEC would not be affected.Haseeb stated that the Zcash team plans to introduce a new “Turnstile” mechanism and a new shielded pool in future upgrades to verify that the current shielded pool does not suffer from inflation issues. He also noted that formally verified cryptographic systems can reduce implementation errors at the design level. Finally, Haseeb disclosed that Dragonfly still holds ZEC, and he is personally an investor in ZODL.
According to the THORChain blog, ZEC is in the queue for launch on THORChain. However, due to a recent vulnerability disclosed in Zcash—whose existing patch impacts integrators’ normal operations—THORChain must first complete a minor code modification to its Bifrost module before proceeding. The development team stated that the change is minimal but must be completed prior to ZEC’s launch. Monero (XMR) is currently expected to launch by the end of this month, with ZEC scheduled to follow.
According to Hyperinsight’s monitoring, Zcash faces a theoretical risk of unlimited token supply due to a vulnerability in its Orchard zero-knowledge proof system. Negative public sentiment surrounding its “black-box” nature has continued to escalate and culminated in today’s concentrated outbreak.
Odaily, Cypherpunk, the company managing the ZEC treasury, stated that all software has vulnerabilities. Historically, Bitcoin once "over-minted" 184 billion BTC due to a bug. However, this does not mean abandoning blockchain technology; rather, security should be enhanced through formal verification and provable correctness.Cypherpunk emphasized that with the development of AI technology, vulnerability detection will become faster and broader, but the key lies in who can discover issues before malicious actors. Zcash will demonstrate this capability through an upcoming update.
Cypherpunk, the ZEC treasury company, responded on X to the market volatility of the ZEC token, stating that all software contains vulnerabilities and citing the historical Bitcoin incident in which a bug led to the accidental minting of 184 billion BTC. However, this does not mean blockchain technology should be abandoned; instead, security should be enhanced through formal verification and provable correctness.
according to Onchain Lens monitoring, due to the Orchard Pool vulnerability, ZEC fell below $400. The 3x leveraged ZEC short position of “1011 insider whale” Garrett Jin has a floating profit of over $13.5 million, while his 5x leveraged BTC long position has a floating loss of over $17 million.
Arthur Hayes (@CryptoHayes), co-founder of BitMEX and CIO of Maelstrom Fund, stated in a post that he has liquidated his entire $ZEC position following a vulnerability exploit targeting ZEC’s Orchard Pool. Hayes noted that although malicious minting is highly unlikely, it cannot be cryptographically proven impossible; privacy narratives demand “perfection,” not merely “probable security.” He added that if the underlying assumptions are later falsified, he does not rule out repurchasing $ZEC at a lower price. His team continues to hold a $WLD position and maintains a bullish stance.