Zcash ZEC Plunges 50% to $264.80 After Orchard Vulnerability; Community Proposes New Shielded Pool

ZEC-37.45%
According to Shielded Labs, a Swiss-based Zcash support organization, Zcash developers are considering a new shielded pool with turnstile accounting after a recently patched vulnerability in Orchard that could have allowed unlimited ZEC counterfeiting. On Friday, the vulnerability disclosure caused ZEC to drop approximately 50%, falling from a daily high of $550.30 to $264.80, according to CoinGecko, before recovering to $308.07. The proposed mechanism would create clearer verification boundaries for coins moving out of the affected Orchard pool. Josh Swihart, founder of Zcash Open Development Lab, said a second Orchard pool could potentially be targeted for the NU7 upgrade scheduled for late July, though no final decision has been made.
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