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Shielded Labs proposed a new Zcash network upgrade that would let anyone verify the privacy coin's supply has not been secretly inflated, after disclosing that a recently patched bug in the network's main shielded pool could have allowed undetectable counterfeiting of ZEC.
Shielded Labs, a nonprofit that funds development of Zcash, the roughly 11th-largest cryptocurrency by market value, said in a blog post the vulnerability sat undiscovered in the Orchard pool from its May 2022 launch until engineers closed it this week.
ZEC reversed the week’s gains and is down 16% in the past seven days, and plunged 25% in the past 24 hours, as the bug came to light, according to CoinGecko data.
