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Zcash Rebounds $2.5 Billion as Founder Unveils Ironwood Upgrade to Address Supply Bug

Project Progress Price Volatility Market Analysis

2026-06-08 16:26:56

ZEC5.64%

According to Decrypt, Zcash founder Zooko Wilcox unveiled the Ironwood upgrade proposal on Friday to address a critical bug discovered by Shielded Labs that could allow unlimited token creation. The upgrade would enable users to verify Zcash's circulating supply immediately upon activation by summing balances across active pools. Zcash's market cap recovered to nearly $7.5 billion this weekend, up $2.5 billion from Friday's low of $5 billion, though still 30% below the pre-incident peak of $10.48 billion. ZEC climbed 6% to approximately $445. Mert Mumtaz, CEO of Solana infrastructure firm Helius Labs and a vocal Zcash supporter, called the upgrade response "extremely bullish," citing its comprehensive approach to preventing future bugs.

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