Zcash Plummets Over 50% Amid Bug, Liquidations

Zcash (ZEC) has experienced a sharp decline, falling over 50% from its recent highs due to the disclosure of a critical counterfeiting vulnerability. The exploit could have allowed for the creation of unlimited ZEC tokens within its shielded pool. Despite the Zcash Open Development Lab patching the flaw, the protocol's privacy features make it difficult to ascertain if the exploit was used. This uncertainty has led to significant liquidations exceeding $116 million.