Zcash's privacy narrative shaken as Arkham deanonymizes over half of its transactions

According to BlockBeats, on December 9, Zcash (ZEC) performed impressively. After the US government confiscated 127,000 BTC held by “Prince Group” key figure Chen Zhi, and the main culprit in the 60,000 BTC money laundering case, Qian Zhimin, was arrested, ZEC’s price surged past $750 fueled by its privacy narrative. However, a new feature launched today on blockchain tracking platform Arkham has shaken Zcash’s (ZEC) privacy narrative. Earlier today, Arkham introduced on-chain monitoring for Zcash, and has already tagged over half of Zcash’s shielded and unshielded transactions on the privacy chain, involving $420 billion in transaction volume, all linked to known individuals and institutions. Arkham’s de-anonymization process for Zcash includes: 53% of Zcash transactions have been tagged; $420 billion in transaction volume has been attributed to specific entities; 48% of all inputs and outputs have been attributed to specific entities; and 37% of Zcash balances have been tagged (a total of $2.5 billion).