Zcash crashes 40% on hidden counterfeit flaw

Zcash has plummeted more than 50% from $630 to $310 from after researchers disclosed a critical counterfeiting vulnerability that existed since May 2022. The Zcash Open Development Lab patched the flaw within days, but the protocol's privacy design makes it cryptographically impossible to prove whether the exploit was ever used. Liquidations exceeded $120 million across 19,160 traders, with BitMEX co-founder Arthur Hayes exiting his position entirely due to the unresolvable uncertainty. Developers are evaluating a network upgrade to verify the supply and restore confidence. Read more →

PumpFun launched GO on Thursday, a bounty platform where users post tasks for crypto rewards starting at $5. Within hours, 234 live bounties appeared, including requests for interviews with crime victims' relatives, permanent tattoos, and dangerous stunts… some offering up to $50,000. Sure, this will bring the eyes and attention back to PumpFun, but it’s only a matter of time until something bad happens. Read more →

JPMorgan, Bank of America, Citi and Wells Fargo are reportedly backing a new tokenized deposit network that could launch in early 2027. The system would be run by The Clearing House, the bank-owned payments company, and the idea is to let tokenized bank deposits move instantly and settle around the clock. Early demand expected from large companies looking for faster treasury operations, 24/7 liquidity management, cross-border payments, etc. Overall, it’s not exactly a stablecoin. It’s more like traditional bank money trying to move on crypto rails. Read more →

📥️ Want to advertise in CoinSnacks? Learn More