Allium Labs našla neobvyklé obchodování se ZEC před odhalením chyby v Orchard, což vyvolalo podezření na obchodování na základě neveřejných informací. Největší short za 34,5 milionu USD vydělal asi 998 000 USD.
Developers recently revealed that a four-year-long vulnerability in Orchard may have enabled unlimited counterfeit Zcash [ZEC] until an emergency patch was issued. However, fresh market data has raised further questions regarding events before the discovery.
Allium Labs, after reviewing trade history, identified unusual trading activity. On the 26th of May, ZEC’s trading volume surged 12–13 times above its average. Researchers privately uncovered the defect three days later, on the 29th of May.
Source: Allium Research While researchers were identifying the defect, ZEC declined from approximately $660 down to $530, indicating increasing selling pressure. The developers disabled Orchard on the 2nd of June and issued a patch on the 3rd of June, yet confidence continued fading.
By the 5th of June, ZEC had fallen by 64 percent from $685 to $247 with hourly trading at $560 million.
Early positioning fuels market suspicion The uncertainty in the aftermath of this issue also led to further review of which parties were actively trading in the market ahead of the issue becoming apparent. Allium found that traders opened the most profitable positions on the 25th and 26th of May.
This occurred days before the private discovery of the Orchard flaw. More importantly, traders opened these large positions before researchers privately disclosed the flaw on the 29th of May. Notably, the largest wallet had a short position worth $34.5 million and, as a result, made approximately $998,000 in profits.
Source: Allium Research A second short position worth $17.7 million accrued profits of approximately $724,000. These high profits raised questions about whether traders anticipated the sell‑off.
However, the data does not provide sufficient evidence to prove such claims. In futures markets, all shorts are offset by an equal number of longs. Therefore, simply showing profitable positions is insufficient to establish that those positions existed due to prior knowledge.
That balance became evident when the largest $91.5 million long position ultimately lost $6.97 million. Meanwhile, Zcash’s privacy model prevents anyone from verifying whether the flaw was ever exploited. This left markets to price on probabilities instead of certainty and kept confidence fragile despite the completed patch.
Final Summary Allium Labs flagged unusual ZEC trading before the Orchard flaw discovery, fueling suspicion of informed positioning. Profitable shorts raised questions, but lack of evidence and Zcash privacy kept confidence fragile.
Zcash spustí upgrade Ironwood na mainnetu 28. července přibližně v 8:00 EST, o týden později, než původně plánoval. Má uzavřít pool Orchard po objevení chyby „infinity“ v květnu.
Zcash’s Ironwood network upgrade, the solution to an “infinity” bug discovered in May on the privacy-focused blockchain’s main private transaction pool, Orchard, is set to go live on July 28.
Announced in June, Ironwood closes the current Orchard pool, prevents new activity in it and sets up a new private pool. Funds leaving Orchard would have to pass through an accounting checkpoint before entering Ironwood, which could produce evidence about whether any counterfeit Zcash (ZEC) tokens were produced through the Orchard bug.
“Zcash's Ironwood mainnet activation height has been set and tagged! All of the major organizations are committed to activation of NU6.3 at height 3428143, which is approximately July 28th at 8AM EST,” Zcash core developer Sean Bowe said on Thursday.
Source: Sean Bowe
Shielded Labs had floated delaying Zcash’s Ironwood upgrade, warning that ecosystem participants such as exchanges, mining pools and wallets would not have enough time to prepare their systems for a late-July mainnet activation. Bowe’s latest comment confirms the upgrade will go ahead one week later than its earlier target date of July 21.
In June, Shielded Labs said Ironwood may provide evidence about whether the Orchard vulnerability was ever exploited.
“As users migrate funds from the existing Orchard pool to the new pool, any hypothetical counterfeiter faces a choice: attempt to move counterfeit funds and risk exposing their existence, or leave them behind and risk being unable to move them in the future.”
ZEC plummeted 50% to $299.25 from $602.68 after the disclosure of the Orchard bug on June 3. The price of ZEC has made a partial recovery in the weeks following and is trading at $492.61 at the time of writing.
Zcash crossed a major monetary milestone this week, with more than 80% of its maximum 21 million ZEC supply now issued. A post from ruZCASH on Monday shows that there is now 16,806,723 ZEC in supply.
Magazine: Bitcoin’s quantum dilemma: Bigger blocks or STARK proofs?
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Key Takeaways Zcash reached $505 before retracing to approximately $466 following significant profit-taking activity near the psychological $500 level The forthcoming Ironwood network update, scheduled for late July, is designed to eliminate undetectable counterfeiting vulnerabilities within Zcash’s shielded transaction framework A major supply milestone has been reached with 80% of ZEC’s capped 21 million token supply now in circulation, intensifying scarcity narratives Technical analyst Ardi highlights that a decisive move above $480 compound resistance could propel ZEC toward the $500–$540 range Contrarian analyst Aladdin_LCA identifies a possible head-and-shoulders formation and cautions that long positions face heightened downside risk Zcash (ZEC) has experienced a notable correction from its recent peak near $505, settling around $466 as market participants secured gains near the critical $500 threshold. The preceding surge of approximately 28% was fueled by growing anticipation surrounding the network’s planned Ironwood protocol enhancement.
Zcash (ZEC) Price The retracement was amplified by cascading liquidations of overleveraged long positions that accumulated near the $500 mark, creating conditions for market makers to capitalize on forced selling. Nevertheless, ZEC has maintained a foothold above the crucial $440 support zone that technical traders continue to monitor closely.
On-chain analytics platform Santiment revealed a compelling social sentiment pattern. Approximately one month ago, $ZEC social media mentions surged to 1,116 on the precise day the token bottomed around $362, coinciding with revelations about the Orchard shielded-pool security flaw. Following that spike, social discussion has remained remarkably subdued, fluctuating between just 24 and 69 daily mentions — even as ZEC appreciated roughly 29% from those lows. Santiment observed: “The noise marked the bottom. The silence is marking the repair.”
A month ago, $ZEC social volume hit 1,116 mentions on the exact day it bottomed. It has stayed quiet ever since, through a recovery the crowd never came back for.
📊 That Jun 5 spike was the loudest day in a month. It marked the low, ~$362.
📉 The crash trigger was the disclosed… pic.twitter.com/YfxLvdWR6M
— Santiment Intelligence (@SantimentData) July 8, 2026
The Ironwood protocol upgrade, anticipated to deploy in late July, will implement cryptographic proofs that mathematically eliminate the possibility of undetectable token creation within Zcash’s privacy-preserving transaction pools. This enhancement follows the emergency patch deployed in June addressing the Orchard vulnerability.
Chart Analysis From a technical standpoint, ZEC is encountering a significant resistance cluster: the 0.786 Fibonacci retracement level converges with the upper Bollinger Band and a horizontal resistance barrier near $490. Chart analyst CryptDollar emphasized this confluence as the critical juncture on the daily timeframe.
Trader Ardi pinpointed compound resistance around $480 where a descending trendline intersects with horizontal price resistance. According to his analysis, a confirmed daily close above this threshold could unlock a pathway back toward $500 and potentially extend to $540.
The Chaikin Money Flow indicator currently registers 0.13, suggesting accumulation pressure continues to exceed distribution. The Aroon Up metric stands above 92%, while TradingView’s aggregated moving average signals flash a Strong Buy rating. Momentum oscillators, however, remain in neutral territory.
Opposing Viewpoint Remains Not all market participants share the optimistic outlook. Trader Aladdin_LCA has retained his bearish thesis, identifying a potential head-and-shoulders topping pattern alongside an anti-butterfly harmonic configuration on the daily timeframe. He indicated his stance would only shift bullish following either a convincing breakout above major resistance or a capitulatory reset to fresh lows.
CoinGlass liquidation heatmaps reveal concentrated short position liquidation levels between $480 and $500, suggesting potential fuel for a short squeeze scenario if buyers can reclaim that territory. Conversely, long liquidation density clusters near the $450 level.
Circulation Benchmark Zcash officially announced that 80% of its hard-capped 21 million ZEC token supply has been extracted through mining. The announcement also highlighted Shielded Labs’ Network Sustainability Mechanism initiative, designed to maintain blockchain security as mining rewards progressively diminish.
At press time, ZEC was trading in the $460 to $480 range, with the $490 resistance zone representing the pivotal level for determining the next significant price movement.
Vývojáři Zcash používají formální verifikaci k matematickému ověření upgradu Ironwood a shielded pool, aby vyloučili neodhalitelné chyby vedoucí k padělání ZEC. Ironwood má tento měsíc uzavřít starý pool a spustit opravenou náhradu.
Zcash developers are using formal verification to mathematically prove the correctness of the Ironwood network upgrade and shielded pool to rule out undetectable counterfeiting bugs after a recently disclosed vulnerability in Orchard exposed the limitations of relying on conventional code audits, as explained by developer and crypto researcher Sean Bowe in a Tuesday blog post.
Ironwood is designed to address a flaw discovered in the Orchard shielded pool and restore confidence in the cryptocurrency’s supply integrity. The flaw was discovered by Shielded Labs researcher Taylor Hornby and patched before any known exploitation.
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According to the developers, undetectable counterfeiting can only arise from flaws in a protocol’s mathematical specification or from broken cryptographic assumptions, while implementation bugs always leave evidence that can be detected by replaying the blockchain with corrected software.
The team said its formal verification effort focuses on proving the correctness of Ironwood’s cryptographic specification rather than auditing implementation code, arguing this is sufficient to rule out undetectable counterfeiting bugs under standard cryptographic assumptions.
The work is being carried out with contributors from zkSecurity and the Zcash Open Development Lab using the Lean theorem prover alongside traditional audits and AI-assisted analysis.
Expected to activate this month, Ironwood will close the old shielded pool and launch a corrected replacement. Users will migrate funds through a “turnstile” mechanism designed to help demonstrate that no counterfeit ZEC entered circulation while eventually capping the amount of value remaining in Orchard.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Zcash (ZEC) za týden přidal 13,3 % na 462,33 USD, zatímco vývojáři připravují upgrade Ironwood (NU6.3) na mainnet kolem 21. července 2026. Ten má uzavřít kompromitovaný Orchard pool a nahradit ho novou auditovanou verzí.
Key Highlights ZEC is currently priced at $462.33 as of July 4, marking a 13.3% increase over the last week A critical vulnerability discovered in the Orchard shielded pool during May caused prices to plummet over 50% Engineers released a fix and revealed the Ironwood upgrade (NU6.3) plans on June 6 Ironwood closes the compromised Orchard pool and launches a new audited version, with mainnet scheduled for July 21 Market analyst Ali Charts identifies a bounce from key support levels with potential targets around $680 Zcash has posted a solid 13.3% gain across the last seven days, with ZEC currently trading at $462.33 on July 4. This upward movement arrives as development teams prepare for the Ironwood network upgrade, which is set to go live on mainnet approximately July 21, 2026.
Zcash (ZEC) Price This recent surge marks a significant turnaround from a challenging period. ZEC experienced a steep decline exceeding 50%, dropping from approximately $630 to between $250 and $300 after security concerns emerged in late May. The subsequent bug fix and transparent upgrade timeline have since fueled price recovery.
On May 29, security specialist Taylor Hornby, contracted by Shielded Labs, uncovered a critical vulnerability within the Orchard shielded pool’s elliptic curve implementation. The flaw existed in the halo2_gadgets crate and permitted attackers to substitute incorrect base points, leading the circuit to validate fraudulent proofs.
Given that Orchard’s architecture conceals sender, receiver, and transaction amounts, any forged notes generated within the pool would be indistinguishable from legitimate ones. This vulnerability had existed undetected since Orchard’s initial deployment in May 2022.
Core development teams verified the security issue within hours of disclosure. A soft fork was implemented to halt new Orchard operations around June 1. Subsequently, a hard fork designated NU6.2 was executed on June 3, restoring complete Orchard capabilities after approximately one day of suspended shielded transactions. Both Zcash Open Development Lab and Shielded Labs have stated they discovered no signs the vulnerability was actively exploited.
Ironwood Closes the Legacy Orchard Pool Revealed on June 6, Ironwood arrives as NU6.3 and represents collaborative work from ZODL, Tachyon, Valar Group, the Zcash Foundation, and Shielded Labs. This upgrade introduces a fresh Ironwood shielded pool constructed on the corrected circuit, complete with formal verification protocols and external security audits.
🚨JUST IN: ZCASH UPGRADE TO STOP UNLIMITED FAKE ZEC COULD BE DELAYED
Zcash Shielded Labs said the Ironwood upgrade may be pushed back as exchanges, wallets and mining pools need more time to complete migration.
The upgrade is meant to replace the Orchard privacy pool after a… pic.twitter.com/lWaKojZsqy
— Coin Bureau (@coinbureau) July 3, 2026
Simultaneously, the original Orchard pool will be permanently closed. New incoming transfers are prohibited, internal movements are restricted, and existing funds can only migrate to the Ironwood pool or transparent addresses.
By preventing new value from entering the legacy pool, any hypothetical counterfeit notes become isolated. This enables full node operators to independently verify the total circulating supply without relying solely on developer attestations.
Ironwood additionally implements ZIP 2005, which modifies the note format to enable potential recovery measures in the event of future quantum computing threats.
Testnet activation occurred around July 3–4. Mainnet deployment is projected for approximately July 21. Node operators running outdated zcashd versions must transition to Zebra or upgraded clients before that deadline.
Technical Analysis: $500 Resistance Level Critical Market analyst Ali Charts observed that ZEC has successfully rebounded from the channel’s middle support zone and, should current momentum persist, the next significant price objective lies around $680 at the channel’s upper boundary.
Zcash $ZEC has successfully bounced from the channel’s mid-range support.
If momentum continues, the next major target sits at the top of the channel near $680. pic.twitter.com/AMUulFc30V
— Ali Charts (@alicharts) July 5, 2026
Critical Price Zones Under Observation Market observers have pinpointed $500–$520 as the crucial resistance band. Breaking above and holding this range would bolster the technical argument for continued recovery. Conversely, a sustained drop below $380 might trigger a pullback toward $340.
Source; TradingView Moving average indicators across various timeframes maintain a bullish configuration. Momentum oscillators show neutral readings, which technical analysts interpret as consolidation phases rather than trend reversals.
Investor and entrepreneur Chamath Palihapitiya has publicly highlighted Ironwood’s supply transparency features as a significant advancement for the cryptocurrency.
Formal verification documentation is expected to be released before mainnet activation, and wallet providers, exchanges, and infrastructure services must complete their integration updates within the remaining two and a half weeks.
Zcash spustil testnet Ironwood se dvěma nezávislými implementacemi konsenzu a výrazně zrychlil migraci peněženek z asi 15 minut na 2,5 minuty. Aktivace na mainnetu se očekává kolem 21. července.
TLDR: Ironwood testnet activates with two independent consensus implementations built by separate teams. Zcash reduced ten-note wallet migration times from around 15 minutes to about 2.5 minutes. Multi-transaction signing now supports more than 11 transactions through a single QR code. Mainnet activation could occur around July 21 as audits and ZIP specifications near completion. Zcash is moving forward with its Ironwood network upgrade after confirming a scheduled testnet activation. The update introduces new consensus changes and major wallet performance improvements ahead of a planned mainnet deployment.
Development teams have also completed two independent consensus implementations for the upgrade. The work marks one of the most advanced testnet preparations recorded for a Zcash network upgrade.
Zcash Ironwood Testnet Upgrade Brings Dual Consensus Implementations Zcash developer Dev announced that the Ironwood testnet upgrade would activate on July 4. The release includes two independently developed consensus implementations.
One implementation came from Valar Group, while the other was built by the Zcash Foundation. According to Dev, the Valar Group version has already entered the audit process.
Zcash testnet is updating for Ironwood tomorrow!
We have two independently developed consensus implementations of it. One by @valargroup, and another by @ZcashFoundation. @valargroup's is in audit as well.
We have a desktop wallet fork with migration code you can try! If you…
— Dev 🧪 (@zkDragon) July 2, 2026
The teams also released a desktop wallet fork that supports migration testing on the testnet. Users with Keystone development devices can update firmware and test migration functions before the mainnet launch.
The upgrade introduces multi-transaction signing through a single QR code. Dev said the feature required extensive work behind the scenes and represented a major technical milestone for the testnet.
Contributors from zodl also participated in the process. The group worked on technical specifications, wallet libraries, circuit updates, and application programming interfaces supporting Ironwood.
Zcash Wallet Performance Improves Ahead of Mainnet Activation Development updates shared by Dev showed major gains in wallet migration performance. The time needed to complete a ten-note migration fell from around 15 minutes to approximately two and a half minutes.
Inbound QR scanning dropped from three minutes to one minute. Loading and transaction review declined from two minutes to 45 seconds.
The signing process posted the largest improvement. Signing time fell from roughly nine minutes to about 37 seconds.
Outbound QR scanning also became faster. The process now takes about 10 seconds compared with roughly one minute previously.
In a separate update, Zcash developer Sean Bowe said all Ironwood consensus rule changes had been implemented and were undergoing audits.
He added that the specifications and Zcash Improvement Proposals, known as ZIPs, were approaching their final state.
UPDATE: Over the last couple weeks we've made huge progress on Ironwood activation in Zcash!
1. All of the consensus rule changes have been implemented, and have been undergoing auditing for some time now. Specifications / ZIPs are published and nearing their final state.
2.… https://t.co/rjQSHM1uox
— Sean Bowe (@ebfull) July 2, 2026
Bowe also said developers expected readiness for a mainnet activation around July 21. He confirmed that the official testnet activation was scheduled for the following day and noted that the Zebra release supporting Ironwood should become available around the same time.
According to Bowe, sufficient mining hash rate already signals technical readiness for the mainnet upgrade. He noted that some wallets may not support Ironwood immediately, although alternative options and testnet preparation time remain available before activation.
Shielded Labs vyvolal možnost odkladu upgradu Ironwood u Zcash, protože burzy, těžební pooly a peněženky nemusí stihnout připravit infrastrukturu do konce července. Současně probíhá migrace ze zcashd na Z3 stack.
Shielded Labs has raised the possibility of delaying Zcash's Ironwood network upgrade, warning that ecosystem participants like exchanges, mining pools and wallets may not have enough time to prepare their systems for the planned activation in late July.
Jason McGee, executive director of Shielded Labs, said in a Zcash community forum post that two major projects are moving forward at the same time. Alongside Ironwood, infrastructure providers are being asked to replace Zcash’s longstanding node and wallet software, zcashd, with a new collection of tools known as the Z3 stack.
The concerns highlight the trade-off between quickly restoring confidence in Zcash’s shielded supply and giving ecosystem participants enough time to deploy and audit the new infrastructure safely.
Ironwood was proposed after researchers discovered an “infinity” bug in Orchard, Zcash’s main private transaction pool. The flaw could theoretically have allowed an attacker to create an unlimited amount of counterfeit ZEC tokens inside the pool without detection. Developers said there was no evidence that the pool had been exploited. However, Orchard's privacy features make it impossible to prove that no fake coins were created.
Source: Zooko Wilcox
Ironwood rollout collides with Zcash software migrationIronwood would open a replacement private pool and prevent new activity inside the existing Orchard pool. Funds leaving Orchard would have to pass through an accounting checkpoint that prevents more ZEC from exiting than what originally entered. This would allow users to verify that the circulating supply remains within Zcash’s intended limits.
At the same time, Zcash is retiring zcashd, the software used by many ecosystem participants to connect to the network and process transactions. Its replacement stack includes Zebra for operating a network node, Zaino for supplying blockchain data to applications and Zallet for wallet functions.
The network's official guidance documents said operators may need to modify their systems as some zcashd functions will not have direct replacements.
McGee said Zallet and Zaino were still under development and not ready for production use. Feedback gathered from infrastructure providers suggested that some expect to be ready by late July, while others need more time, he added.
McGee said no delay has been finalized.
Zcash founder Zooko Wilcox said security reviews had found no additional serious bugs so far and that developers are also working to verify the new system before Ironwood activates.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Zcash se obchoduje kolem 422 USD a po návratu nad 200denní klouzavý průměr vede oživení privacy coinů. Klíčový test přijde na konci července s upgradem Ironwood, který má obnovit důvěru po červnové chybě.
Zcash is at $422. Up 6% today. One of the strongest coins in the top 20.
And it is not alone. Monero is green. Bitcoin Cash is up 9% on the week. The privacy corner of crypto, ignored for months, just woke up.
But before anyone gets carried away, ZEC has a complicated story this year and one big test coming this month. Let me give you both sides, fast.
The move Zcash just did something technically meaningful: it crossed back above its 200-day moving average near $380 (live ZEC price on CoinGecko). That average is the line that separates coins in long-term downtrends from coins with a pulse. Reclaiming it after weeks below is the first structural positive ZEC has printed in a while.
The chart now projects a possible double-bottom, the pattern you get when sellers fail to make a new low twice. Momentum is turning: bearish pressure is fading, the RSI is ticking up, and the MACD is setting up for a bullish crossover. Textbook early-recovery signals.
The gate above is $454, the 50-day average. Clear that, and analysts see room toward $520. Below, $356 is the support that has to hold, guarding the round $300.
Why privacy, why now The rotation makes sense if you think about it. The market is rebounding, Bitcoin just reclaimed $60,000, and traders hunting for laggards with a narrative landed on privacy coins, a sector that spent months out of favor while everyone chased AI tokens and Solana.
Zcash is the most recognizable name in that sector, sitting in the top 20 with an $8 billion-class market cap earlier this year. When privacy sentiment turns, ZEC is where the money goes first. Add Monero and Bitcoin Cash both green this week, and you have a genuine sector move, not a one-coin squeeze.
Now the part you need to know Here is the honest half, because ZEC’s 2026 has been rough. In early June, developers disclosed a four-year-old vulnerability in Zcash’s shielded pool. It was patched within days and no exploitation was confirmed. But the disclosure alone crushed trust and helped crash the price around 40%. That is the hole ZEC is still climbing out of.
There is also whale behavior to watch. Reports through late June flagged large holders closing positions and reducing risk, the kind of selling that has capped every bounce attempt so far. A failed rebound near $543 earlier this cycle is the scar tissue.
Which brings us to the test.
The July test: Ironwood Zcash’s answer to the trust problem is an upgrade called Ironwood, targeted for late July. Its whole purpose is restoring confidence: formal verification and independent audits designed to prove the supply integrity that June’s scare called into question.
That makes the next few weeks unusually binary for ZEC. If Ironwood ships clean and the audits land well, the trust discount baked into the price has a real reason to close, and the technical setup gets its fundamental fuel. If it slips or disappoints, the rally loses its floor. Few coins have a single catalyst this clearly dated and this clearly decisive. Mark it.
The levels Up: $454 is the gate. Clear it and $520 is the target.
Down: $356 must hold. Below it, $300, then $251.
Bottom line Zcash at $422 is leading a genuine privacy-coin revival, reclaiming its 200-day average with a double-bottom setting up and momentum turning. The sector rotation is real, and ZEC is its flagship.
But this is a high-risk chart with a trust wound from June’s vulnerability scare and whales still selling bounces. Everything funnels into late July: the Ironwood upgrade either restores the confidence this rally needs, or it does not. Watch $454 above, $356 below, and that upgrade date above all. Privacy woke up. Whether it stays awake is a July question.
FAQ What is the Zcash price today?
Zcash is trading near $422 on July 2, 2026, up about 6% on the day, one of the strongest performers in the top 20 as privacy coins lead the market rebound.
Why is Zcash going up?
ZEC reclaimed its 200-day moving average as traders rotate into privacy coins, a sector out of favor for months. Monero and Bitcoin Cash are also green, making it a genuine sector move. A double-bottom pattern and improving momentum support the technical case.
What is the Ironwood upgrade?
Ironwood is Zcash’s late-July upgrade aimed at restoring trust after a June vulnerability disclosure, using formal verification and independent audits to prove supply integrity. It is the decisive catalyst for whether ZEC’s rally holds.
What happened to Zcash in June?
Developers disclosed and patched a four-year-old vulnerability in Zcash’s shielded pool. No exploitation was confirmed, but the disclosure damaged trust and contributed to a roughly 40% price crash that ZEC is still recovering from.
What are the key Zcash levels?
The gate above is $454, the 50-day average; clearing it targets $520. Support is $356, which guards the round $300 level, with $251 below that. Whale selling has capped previous bounce attempts.
This is not investment advice. Zcash is highly volatile and carries elevated risk after its June security scare. Always do your own research.
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Nezisková organizace Zcash Sovright spustila nástroj Argos, který má pomoci bývalým uživatelům ZEC Wallet Lite získat zpět zamčené shielded prostředky z roku 2022. Funguje pro ty, kdo mají původní seed frázi.
Early ZEC Holders Get a Path Back to Stranded FundsZcash nonprofit @sovright_ has released a new recovery tool called Argos, designed to help early $ZEC holders reclaim shielded funds that became inaccessible when ZEC Wallet Lite was discontinued in 2022. For users who still have their original seed phrase, Argos offers a potential route to funds that have been effectively out of reach for years.
The wallet was once a widely used light client for Zcash's shielded transaction layer, and its shutdown left a number of long-time adopters unable to access balances held in private shielded addresses. The total amount stranded has been described as significant, with early community members bearing the brunt of the impact. Sovright has not confirmed how many addresses were affected, and the scale of the recovery opportunity remains unclear. The organization says Argos is available to any former ZEC Wallet Lite user who retained their seed phrase, making that backup the key requirement for the tool.
The recovery challenge has persisted within the Zcash community for some time. As the Zcash Community Forum has documented, one recurring difficulty is that even users with a valid seed phrase may struggle to recover funds through standard wallet imports, due to the specific way ZEC Wallet Lite derived keys and addresses. Argos is Sovright's attempt to close that gap directly.
Who Is Sovright and Where Does It Fit in the Zcash Ecosystem?Sovright is the nonprofit that emerged from the Bootstrap board following January 2026's governance split with ECC. Bootstrap is the 501(c)(3) nonprofit that was created to support Zcash and provide governance oversight for ECC. When the entire ECC engineering and product team resigned in January 2026 following that dispute, the former ECC staff went on to form the VC-backed Zcash Open Development Lab (ZODL), which has since raised over $25 million from investors including a16z Crypto, Paradigm, and Coinbase Ventures.
Sovright, by contrast, carries forward the nonprofit side of that legacy. The Argos launch adds a user-facing recovery function to a portfolio that already includes protocol development work and a testnet for a new Zcash mining pool with shielded payouts by default.
The release also arrives during an active period for the broader Zcash network. Network Upgrade 7 (NU7) went live on testnet in May 2026, doubling shielded transaction speed and cutting block times, paving the way for a mainnet rollout. Tools that help long-standing holders recover previously inaccessible balances could support renewed engagement with the protocol's shielded layer as that rollout approaches.
Sovright has not released a timeline for a full audit of affected addresses. Potential users should treat Argos as an early-stage release until further guidance is published by the organization.
Sources:
Zcash Community Forum: Discussion on ZEC Wallet Lite recovery challenges
CoinDesk: ECC staff quit after governance clash with Bootstrap
CoinDesk: ZODL raises $25 million in seed funding
Zcash se blíží k upgradu Crosslink, který přidá PoS finalitu vedle stávajícího PoW a má zvýšit bezpečnost sítě. Pro staking bude nutné přesunout ZEC do Orchard poolu.
Zcash is moving closer to one of its most significant consensus-layer changes in years. The proposed Crosslink upgrade introduces a proof-of-stake (PoS) finality layer that runs alongside the existing proof-of-work (PoW) chain.
It adds a second consensus mechanism that locks confirmed blocks, making them economically irreversible. This provides additional security against rollback attacks and significantly reduces wait times for certain transactions.
Although Crosslink has not yet been activated on the Zcash mainnet, this guide explains how node operators who want to participate as finalizers can be better prepared for public testing and eventual deployment.
Key Takeaways Crosslink adds a PoS finality layer to Zcash, allowing finalizers to stake ZEC and help secure the network alongside PoW miners. Prospective finalizers should migrate to Zebra, move eligible ZEC into the Orchard pool, and participate in Crosslink Feature Net testing to prepare for deployment. Reliable infrastructure, continuous uptime, and active participation in protocol updates will be essential for operating a Crosslink finalizer node. Understanding Crosslink’s Validator Model This model aims to improve settlement security without abandoning Zcash’s existing consensus foundation.
Crosslink introduces a network of PoS participants known as finalizers that operate alongside miners. While miners continue to produce blocks, validators help ensure finality through a Byzantine Fault Tolerant (BFT) mechanism running in parallel with the PoW chain.
According to Shielded Labs, staking operations, delegation mechanisms, validator roster selection, and reward issuance have already been incorporated into the prototype development roadmap.
Step-by-Step Process of Preparing Your Node 1. Migrate from Zcashd to Zebra
The Crosslink prototype is built on Zebra, which requires operators running on Zcashd to:
Install the latest Zebra release from the official Zcash Foundation GitHub repository. Sync the Zebra node to the chain tip before switching. Migrate wallet functionality to Zallet. Verify your node reports the correct chain state. The latest Zebra release has upgraded several core cryptography libraries and bumped the minimum supported Rust version, so ensure your build environment meets the current Rust toolchain requirements before compiling from source.
2. Move ZEC to the Orchard Shielded Pool
Staking is tied exclusively to Orchard-pool balances. If your ZEC is sitting in a transparent address or an older Sapling address, it will not be eligible for staking under Crosslink.
Transfer funds to a unified address beginning with “u1” using Zashi or Zallet, and confirm the balance appears in the Orchard pool.
Staking uses quantized amounts of 1, 10, or 100 ZEC, so plan your holdings accordingly to avoid locking up funds in amounts that fall between these tiers.
3. Run the Crosslink Feature Net
The first seasonal incentivized testnet allows the community to help test the system while contributing to infrastructure that benefits the Zcash mainnet. Community incentives focus on activities that support the ecosystem.
To join:
Pull the Crosslink-enabled build from the ShieldedLabs/crosslink-deployment GitHub repository. Configure your node to connect to Feature Net peers using the parameters published by Shielded Labs for Season 1. Submit a staking action using the updated transaction version that includes a staking action field. Monitor finality status via the dedicated RPC calls added in Milestone 2, which log warnings when finality stalls. 4. Harden Your Infrastructure
The current focus for Crosslink development is on stability, especially around new networking components for syncing. Finalizer nodes need reliable uptime because BFT consensus requires a minimum quorum of participants to advance the finality layer. Operators should:
Run nodes on dedicated hardware with at least 16 GB RAM and an SSD-backed data directory. Ensure uninterrupted internet connectivity with redundant failover. Monitor the finality-status RPC endpoint to detect and alert on stall conditions. Keep the node software updated across each seasonal Feature Net cycle, as breaking changes to database schemas and serialization formats are expected during the prototype phase. 5. Follow the ZIP Process
Crosslink requires formal Zcash Improvement Proposals (ZIPs) to move from Feature Net to the mainnet. Hardening comes after the productionization phase to finalize ZIPs and complete security audits. These steps are intended to prepare the protocol for a future network upgrade, pending community approval and successful security audits.
Monitor the official ZIPs repository and participate in community sentiment polls, which influence whether Crosslink is scheduled into a future network upgrade.
Potential Challenges for Validators Crosslink introduces new operational responsibilities that traditional PoW miners do not face.
These may include:
Managing delegated stake Maintaining high validator uptime Responding to protocol upgrades Monitoring slashing or penalty mechanisms Balancing security with operational costs Although many design elements are still being finalized, operators should expect validator management to require more ongoing oversight than simply running a standard full node.
Bottom Line To prepare a validator node for the Zcash Crosslink hybrid PoS upgrade, operators should migrate to the Zebra ecosystem, position eligible ZEC in the Orchard pool, participate in Feature Net testing, and maintain reliable infrastructure capable of supporting finality operations.
While Crosslink is still progressing through testing and governance stages, early preparation can help node operators understand the protocol’s staking and finalization mechanics before deploying on the mainnet.
If approved, Crosslink could strengthen Zcash’s security model by combining PoW mining with stake-based finality, creating a more resilient network while introducing new opportunities for ZEC holders to participate in consensus.
A new mobile app is giving Zcash ($ZEC) holders something the ecosystem has long needed: a simple way to find businesses near them that accept ZEC in the real world.
ZecMap is now available on the Apple App Store. Users can open the map, locate nearby merchants accepting Zcash, and head straight to a participating business. The premise is straightforward. Holding ZEC has never been the hard part. Spending it has.
From Web to MobileZecMap first launched as a web platform in May 2026, inviting the Zcash community to contribute merchant listings. The project also introduced a contributor rewards programme, letting users earn ZEC by adding verified businesses to the directory. The iOS app is the next step in that rollout, putting the map directly in users' pockets.
The platform has expanded steadily since its web debut. According to the Zcash community newsletter ZecHub, ZecMap has grown to support more than 9,000 locations and has integrated with Flexa, a payments network that lets users spend crypto at physical retail locations. A planned AI assistant is also in development, designed to help users find nearby merchants and answer questions about Zcash day-to-day usage.
Closing the Spending Gap for a Privacy CoinThe app arrives at a moment when the broader Zcash ecosystem is seeing renewed momentum. Zcash uses zero-knowledge proofs to allow shielded transactions, meaning payment details can remain private without sacrificing verifiability on-chain. That technical foundation makes it well-suited to real-world commerce, but merchant acceptance has historically lagged behind the technology.
Tools like ZecMap are a direct response to that gap. By surfacing a live, community-sourced directory of accepting merchants, the app turns Zcash from a stored asset into something more practical for everyday use. For the Zcash community, that shift matters as much as any protocol upgrade.
An Android version was announced as part of the original roadmap and is expected to follow the iOS release.
Sources
Zcash Community Forum: ZecMap is now available on the App Store
ZecHub Shielded News Vol. 23: ZecMap Flexa integration and 9,000+ locations
Zcash Community Forum: ZecMap Contributor Rewards Programme
Kalshi přidala perpetual futures pro Zcash, NEAR Protocol, Dogecoin a Shiba Inu, čímž rozšířila nabídku kryptoměn na 13 aktiv. Produkty jsou nabízené v regulovaném rámci CFTC, bez expirace.
Kalshi has added perpetual futures contracts for Zcash ($ZEC), NEAR Protocol ($NEAR), Dogecoin ($DOGE), and Shiba Inu ($SHIB) to its platform, the latest step in a rapid expansion of the prediction market operator's regulated derivatives business.
Four New Contracts, 13 Crypto Assets Total The additions bring the total number of supported crypto assets to 13, alongside Bitcoin and other altcoins. Zcash perpetuals are offered with up to 2x leverage, while NEAR contracts allow leverage of up to 2.6x. Shiba Inu's perpetual contract, listed under the ticker KSHIB, also carries a maximum leverage ratio of 2x.
The contracts trade under Kalshi's American Perpetuals label, a product line that never expires and instead settles through periodic funding payments between traders. The contracts are available through a structure approved by the U.S. Commodity Futures Trading Commission and do not carry expiration dates.
Kalshi opened its perpetuals push in late May with Bitcoin, the first such contract ever cleared for trading on a U.S. venue. Ethereum, XRP, Solana, and Hyperliquid followed through June under the same regulated framework. Kalshi is the first company in U.S. history to offer regulated perpetual futures to American traders.
Some Contracts Still Awaiting CFTC Sign-Off Kalshi has already secured approval for most of its filed products, though contracts linked to Stellar, Polkadot, and Hedera remain under review by the CFTC. Because such products may vary significantly depending on the assets they reference, the Commission took the view that a voluntary, case-by-case review process under Regulation 40.3 is the appropriate route for listing perpetual contracts, rather than self-certification.
The approvals came despite CME Group's lawsuit against the U.S. CFTC and its chairman, alleging that these contracts are swaps. The SEC and CFTC are also requesting public comments to clarify and harmonize definitions of derivatives products, especially swaps.
Last year, crypto exchanges processed $86 trillion in perpetual futures volume, according to data from CoinGecko. The bulk of that activity has historically taken place on offshore platforms, making Kalshi's regulated onshore offering a notable structural shift for U.S. traders.
Sources:
crypto.news: Kalshi launches Zcash and SHIB perps as lawsuit heats up
CFTC: Order for Approval of Kalshi BTCPERP Contract
CoinDesk: U.S. CFTC opens crypto perp door with approval of first regulated firm
Vývojáři Zcash navrhli auditovatelný upgrade Ironwood, který má obnovit veřejně ověřitelné účtování nabídky po zranitelnosti v Orchard. Přechod má začít po vyřazení zcashd a cílit na konec července 2026.
Zcash developers are moving toward a new auditable shielded pool called Ironwood after last week’s Orchard vulnerability disclosure reignited concerns around hidden inflation risks and unverifiable supply integrity.
In a June 6 proposal, Zcash Open Development Lab [ZODL] outlined plans for a new shielded pool. It is designed to restore publicly verifiable supply accounting while preserving user privacy.
The proposal followed the June 5 disclosure that a critical flaw inside Zcash’s Orchard shielded pool could have theoretically enabled unlimited undetectable counterfeit ZEC before an emergency fix was deployed.
Developers stressed at the time that there was no evidence the flaw had ever been exploited and that circulating supply had not changed.
Attention around Orchard intensified again on June 11 after Arkham flagged a withdrawal representing roughly 1% of all ZEC held inside the shielded pool.
Ironwood aims to restore auditable supply integrity The proposed Ironwood upgrade introduces a “turnstile” accounting mechanism designed to make Zcash’s circulating supply publicly auditable again.
Under the proposal, the existing Orchard pool would stop accepting new deposits and internal transfers. Funds could only move forward through the turnstile before entering Ironwood.
Because the mechanism rejects any attempt to withdraw more ZEC than was originally deposited into the migration process, the ecosystem says users would gain a trustless guarantee that circulating supply remains accurate.
“The total supply moved from Orchard to Ironwood will be verified by a turnstile, allowing anyone to audit Zcash’s circulating supply,” ZODL wrote in the proposal.
The ecosystem also said Ironwood would undergo additional independent audits and formal verification reviews to rule out future soundness issues.
The upgrade is currently targeting activation in late July 2026, following the planned deprecation of zcashd support.
Arkham withdrawal revives focus on Orchard balances The Ironwood proposal returned to the spotlight Thursday after Arkham highlighted a large Orchard withdrawal on-chain.
Arkham said Orchard still theoretically holds around 3.88 million ZEC, worth approximately $1.65 billion. However, the platform acknowledged shielded balances cannot be independently verified.
The transaction itself does not prove counterfeit ZEC entered circulation or that the Orchard flaw was exploited before remediation.
However, the movement attracted attention. This was because the original disclosure acknowledged that there is no way to determine if inflation occurred before the patch.
That uncertainty has become central to the broader debate surrounding privacy-preserving cryptocurrency systems.
ZEC stabilizes after sharp post-disclosure selloff ZEC price action has also shifted notably since the initial Orchard disclosure.
After experiencing a sharp selloff immediately following the June 5 announcement, ZEC later stabilized as traders reassessed the long-term implications of the flaw and the ecosystem’s proposed response.
The rebound suggests markets may be treating the issue as a contained technical vulnerability rather than evidence of a catastrophic supply failure. At the time of this writing, it was trading with an over 4% gain, around $425.
Source: TradingView The proposed Ironwood migration aims to restore long-term confidence in Zcash’s privacy infrastructure while preserving shielded transaction functionality.
Final Summary Zcash developers proposed the auditable Ironwood shielded pool after last week’s Orchard vulnerability disclosure. Renewed scrutiny around large Orchard withdrawals has intensified focus on Zcash’s efforts to restore publicly verifiable supply integrity.
Coinbase, Kraken, Bittrex, Circle a další spustily Crypto Rating Council, který bude hodnotit kryptoprojekty podle toho, zda mohou být podle amerického práva považovány za cenné papíry. Bitcoin dostal nejnižší skóre 1, zatímco XRP 4.
Some of the most popular companies in the cryptoeconomy have banded together to create an organization that will assess and rate top cryptocurrency projects on the likelihood of these projects being securities per U.S. federal securities laws.
That organization, the Crypto Rating Council (CRC), counts exchange operators like Bittrex, Coinbase, Kraken, and Poloniex-backers Circle among its first members, as well as the firms of Anchorage, DRW Cumberland, Genesis, and Grayscale Investments.
So why the need for such a body?
The so-called Howey Test, which is a test devised by the U.S. Supreme Court to determine if a given asset is a security, commonly leads to “judgment calls, inconsistent results, and … disagreement among legal experts,” the CRC said on the Frequently Asked Questions section of its new website.
Accordingly, the organization’s rating system — which runs from 1 to 5, with 5 indicating an asset bears the hallmarks of a security and 1 meaning the opposite — is being hailed by members as a “compliance tool” that will help bring consistency to their respective asset review processes.
Founded by prominent companies across the crypto industry, our mission is to lead crypto financial services firms committed to practical compliance with the U.S. securities laws. We are the Crypto Rating Council, and we launched today: https://t.co/FbdwfSZN9D
— Crypto Rating Council (@CRC_Crypto) September 30, 2019
“The CRC will publish a simple rating for most assets it reviews to indicate the results of its analysis as a reference for operators, developers, and the public,” the organization said.
With that said, the ratings are utterly non-binding and have been made without involvement from the U.S. Securities and Exchange Commission (SEC). So, while clarity is the professed goal, the only thing the CRC has ultimately made more clear is what its members think about the legal status of top cryptocurrencies in America.
“The score does not reflect a legal conclusion and is no indication of qualitative value of an asset or suitability for investment or any other purpose,” the CRC said of its ratings.
How the First Scores Look Don’t expect any surprises when it comes to bitcoin (BTC). The oldest cryptocurrency, which has long been held up by various stakeholders as a standard for decentralized projects, received a 1 rating from the CRC.
Other projects the body deemed to have “few or no characteristics consistent with treatment as a security” included DeFi’s darling Dai stablecoin, the popular Monero (XMR) privacy cryptocurrency, and Litecoin (LTC).
The 2 rating was given to the next rung of projects that the CRC deemed to seem mostly decentralized according to its framework. These projects included Ethereum (ETH), Zcash (ZEC), Numeraire (NMR), ChainLink (LINK), and the fledgling proof-of-stake project Algorand (ALGO).
Getting on up there according to the group were projects like Augur (3.75), EOS (3.75), Stellar (3.75), Tezos (3.75), and XRP (4). The highest inaugural scores were given to Polymath (4.5) and Maker (4.5).
Notably, the SEC announced just hours after these ratings were released that Block.one, the team behind the EOS launch, had settled charges and would pay a $24 million civil penalty for its year-long ICO being an unregistered security offering.
The Commission said the securities status only applied to the “IOU” ERC20 token that was issued during the sale rather than the current EOS cryptocurrency, which lives on EOS now rather than Ethereum.
Are Exchanges Listing Securities? One question that immediately started buzzing through the ecosystem on the heels of the announcement of the CRC was why would exchanges like Coinbase take chances on assets like XRP that appear to bear considerable resemblances to a security in the U.S.?
One possibility is that the group’s members consider “security status is binary,” according to Jake Chervinsky, the General Counsel of DeFi lending project Compound Finance. In other words, anything less than a 5 rating would be fair game accordingly.
My best guess: they'd say security status is binary and as a matter of law it doesn't make a difference how close a token comes to being a security if it's ultimately not one.
On that logic, though, query the value of publishing the five-point score in the first place.
— Jake Chervinsky (@jchervinsky) September 30, 2019
But even if the already rated cryptocurrencies later end up being cleared as “not securities” per the SEC, the CRC rating system can lead to future conflicts of interest, e.g. member exchanges being charitable in their ratings because they stand to gain from trade volume.
In my opinion, this rating system creates a massive conflict of interest. All of the companies that joined this consortium are massively incentivized to rate the vast majority of tokens as non-securities. Coinbase listed some very questionable tokens including XRP, Tezos, EOS
— Larry Cermak (@lawmaster) September 30, 2019
But there’s a silver lining here, according to Blockchain chief executive officer and president Marco Santori. In a Twitter thread on the CRC announcement, Santori said the effort was suspect in some ways but was also a positive attempt at self-regulation in an industry that needs more regulatory clarity in general.
8/ So why on earth would they publish this? Why on earth should we applaud their effort?
Well, actually we should.
As an industry, this stuff is basically the best we've got.
THAT'S RIGHT ITS A TWIST
wait hear me out.
— Marco Santori (@msantoriESQ) September 30, 2019
William M. Peaster
William M. Peaster is a professional writer and editor who specializes in the Ethereum, Dai, and Bitcoin beats in the cryptoeconomy. He's appeared in Blockonomi, Binance Academy, Bitsonline, and more. He enjoys tracking smart contracts, DAOs, dApps, and the Lightning Network. He's learning Solidity, too! Contact him on Telegram at @wmpeaster
Zcash dokončil nouzový dvoufázový upgrade, který opravil kritickou chybu v Orchard shielded pool a obnovil důvěru v síť. ZEC se po propadu o zhruba 50 % začíná zotavovat.
Zcash has completed a two-phase emergency network upgrade to fix a critical vulnerability in its Orchard shielded pool — a flaw that sat undetected for four years, could theoretically have allowed unlimited undetectable counterfeit ZEC creation, and triggered a 50% price collapse before the network’s swift response began restoring confidence and driving a recovery in ZEC’s price.
Josh Swihart, CEO of Electric Coin Company — the primary developer of Zcash — posted on X on June 7 confirming the fix was complete and the network secure, as ZEC began its recovery from the lows reached after the vulnerability’s disclosure.
The post arrived at a critical moment for the asset: ZEC had crashed approximately 50% from a June 4 peak of $624 to $309 on June 5, wiping more than $3 billion from its market capitalization, per the BitMEX Blog’s documented timeline of the incident.
ZEC's price trends to the upside over the past 48 hours, as seen on the daily chart. Source: ZECUSD on Tradingview How The Zcash Bug Was Found — And What It Was The vulnerability was discovered on May 29, 2026 by security researcher Taylor Hornby during a protocol audit commissioned by Shielded Labs. Hornby identified a “soundness” flaw in Zcash’s Orchard zero-knowledge proof circuit — specifically an under-constrained element in the Orchard Action circuit that could allow invalid state transitions, creating a theoretical double-spending risk within the shielded pool.
The discovery was made using Anthropic’s Claude Opus 4.8 AI model alongside a custom analysis suite, per Shielded Labs’ official disclosure. Hornby and the AI developed a working proof-of-concept that successfully generated unlimited, completely undetectable counterfeit ZEC in a local test environment — described by one independent analyst as “about the worst kind of bug a cryptocurrency can have,” per Yahoo Finance’s reporting of the disclosure.
Critically, the flaw did not permit inflation of the total ZEC supply on the live network. Zcash’s internal turnstile accounting mechanism — which tracks the total value moving into and out of the shielded pool — confirmed no unauthorized value creation occurred while the flaw was active, per Shielded Labs’ official statement.
However, the organization acknowledged directly that due to the privacy properties of Orchard and the nature of the bug, there is no definitive cryptographic way to determine whether exploitation occurred — a limitation inherent to the shielded pool’s design that became its own source of market concern. The vulnerability had been present since Orchard’s activation in May 2022 — four years — without detection.
The Emergency Response Zcash’s development ecosystem responded with unusual speed. The first phase was an emergency soft fork deployed through Zebra 4.5.3, activated at block 3,363,426 on June 2, which temporarily disabled all Orchard transactions to remove the attack path while developers prepared the permanent fix.
Transparent and Sapling transactions continued operating normally throughout, per the Zcash Foundation’s official announcement on X. The second phase arrived on June 3 through the NU6.2 hard fork — activated at block 3,364,600 via Zebra 5.0.0 — which introduced a corrected circuit and a new verifying key, patching the flaw and re-enabling Orchard transactions, per the Foundation.
The market’s initial reaction to the hard fork was positive. ZEC rose from $544 on June 2 to $603 on June 3, continuing to $624 on June 4 — its highest level since the rally began. Then Arthur Hayes publicly disclosed he had exited his entire ZEC position intraday on June 4 — the same day as the peak — citing five macro factors including higher energy prices and upcoming AI IPOs, per his X post covered in prior reporting. The combination of Hayes’ exit and lingering uncertainty about whether exploitation had occurred before the patch sent ZEC to $309 on June 5.
The Recovery And What It Means Swihart’s June 7 X post — reassuring the community that total ZEC supply remained intact throughout and that the network had passed through the emergency without confirmed exploitation — appears to have been the catalyst for the recovery now underway. The swift two-phase response, combined with the Foundation’s transparent disclosure and Swihart’s direct communication, provided the confidence signal the market needed.
This development marks a pivotal and genuinely uncomfortable moment for Zcash’s long-term positioning in the nascent sector. A four-year-old vulnerability in the Orchard pool — the very component that defines ZEC’s core privacy value proposition — has been fixed cleanly and without confirmed exploitation.
But the structural irony that the privacy properties that make Zcash valuable also make it impossible to confirm the vulnerability was never used will remain a question mark the community will need to address as the recovery continues.
As of this writing, ZEC trades at around $430, recovering from its June 5 lows as confidence in the network’s security response gradually rebuilds.
Cover image from Grok, ZECUSD Chart from Tradingview
