Zcash Plunges 33% on Friday After Disclosure of Four-Year-Old Privacy Bug

According to CoinGecko, Zcash plunged 33% on Friday following the disclosure of a critical four-year-old vulnerability that could theoretically allow the creation of counterfeit coins. The digital asset traded around $350, down from below $265 overnight.

Because Zcash's privacy features mask transaction details, Shielded Labs, the organization supporting Zcash's development, said there is no definitive way to determine whether the bug was exploited to mint unauthorized coins. The vulnerability was patched earlier this week.