The Zcash development team applied an emergency patch for a serious vulnerability found in the Orchard shielded pool, The Block reported on June 8.
According to the report, Zcash Open Development Lab founder Josh Swihart (조시 스위하트) carried out a two-step emergency upgrade.
The first step was a soft fork that disabled Orchard transactions, focusing on blocking the risk of exploitation before the vulnerability was fully disclosed. In the second step, a June 3 hard fork (NU6.2) fixed the root problem and re-enabled Orchard transactions.
The vulnerability was disclosed by independent support group Shielded Labs. It was a serious bug that could allow unlimited counterfeit minting of ZEC in the Orchard pool. Shielded Labs said there appeared to have been no actual exploitation.
Immediately after the disclosure, ZEC fell more than 50 percent, from about $630 to $303. BitMEX co-founder Arthur Hayes (아서 헤이스) said he liquidated his entire ZEC position. ZEC later partially recovered, rising 13.5 percent over 24 hours to trade at $428.67. It rebounded 41.5 percent from its June 5 low.
Chi-gyu Hwang
delight@d-today.co.kr