Zcash surged more than 80% from its Friday low after developers patched a critical vulnerability in its Orchard shielded pool and proposed a new network upgrade designed to restore confidence in the privacy coin’s circulating supply.
ZEC jumped from about $250 on Friday to more than $450 by Monday morning, according to CoinGecko data, reversing part of a steep selloff triggered by the disclosure of a bug that could have allowed an attacker to create counterfeit ZEC inside Orchard.
The token was recently trading near $450, with a market capitalization of about $7.4 billion and more than $1 billion in 24 hour trading volume.
The rebound followed a coordinated emergency response by Zcash developers and ecosystem participants, who patched the issue through a network upgrade completed on June 2.
Shielded Labs said the vulnerability was unlikely to have been exploited, while ZODL said there was no evidence of impact to user funds, no evidence of any change to total ZEC supply, and no evidence that the flaw affected privacy.
