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Zcash Selloff Extends Beyond 50% on June 5 as Bug Disclosure Triggers $116M in Liquidations

Price Volatility Derivatives Data

2026-06-05 11:56:11

ZEC-35.23%

According to CoinGlass, Zcash extended its selloff beyond 50% on Friday, June 5, with liquidations surpassing $116 million—the third-largest among cryptocurrencies in the 24-hour period—as a critical counterfeiting vulnerability continued to weigh on sentiment. ZEC fell as much as 60% from around $630 on Thursday to roughly $250-310 on Friday, recovering some losses thereafter. The vulnerability, disclosed by Zcash co-founder Zooko Wilcox, researchers Jason McGee, and Taylor Hornby, would have allowed a malicious actor to mint unlimited undetectable counterfeit ZEC by spending the same shielded note multiple times within the Orchard pool. The bug existed in the Orchard circuit since its activation in May 2022 and was remediated with a soft fork on June 1, 2026.

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