Zcash Founder Retrospects on Critical Network Vulnerability, ZEC Plunges Over 30%

June 5 – Per Bitget data, fueled by “IPO God” Serenity’s “pump signal,” Green Harmony has seen a short-term surge of over 8% and is now trading at $352.7. Earlier, Serenity, known as the “IPO God,” noted that Green Harmony (ticker: 688017) is his top pick among Chinese listed firms in the humanoid robotics sector; the company is currently valued at around 57.73 billion yuan. China clearly holds a leading edge in scalable mass production, and many Western companies struggle to match Green Harmony’s cost levels. As physical AI advances toward large-scale deployment, he remains extremely bullish on the robotics sector.

**Zcash Orchard Pool Vulnerability Triggers Emergency Fix, Sparks 31% ZEC Price Drop** Zcash founder Zooko Wilcox revealed in a June 5 post a severe counterfeiting vulnerability in the protocol’s Orchard privacy pool, a flaw that could be abused to create an unlimited, undetectable amount of fake ZEC tokens. Security researcher Taylor Hornby discovered the bug on May 29 using Anthropic’s Opus 4.8 model, then disclosed it to the Zcash Open Development Lab (ZODL). ZODL coordinated an emergency response across the Zcash ecosystem, with a fix rolled out on June 2. Hornby developed full working exploit code in a local regtest environment, which successfully generated unlimited untraceable counterfeit ZEC during testing. If run on Zcash’s mainnet, this tool would let attackers produce fake tokens that go undetected in user wallets. The vulnerability stems from an under-constrained component in the Orchard circuit: malicious actors can feed false inputs to elliptic curve multiplication, an

Per an official announcement, Binance will cease support for trading in certain stocks on June 5, 2026, at 19:00. The stocks being delisted in this round include: AB, ARLP, BSM, CAPL, CQP, DKL, DMLP, EPD, ET, GEL, GLP, IEP, MMLP, MPLX, NGL, NRP, PAA, SPH, SUN, UAN, USAC, WES, and WLKP.

June 5 — According to Hyperinsight’s monitoring (via their Telegram channel @HyperInsight), as of 10 hours prior to this report’s publication, three whales on Hyperliquid opened nine-figure BTC short positions today, all on the bearish side. Two of these whales have already placed buy orders, planning to take profits in stages once BTC drops below $60,000. Today’s largest BTC whale position details: The trader shorted 304.2 BTC with 40x leverage, valued at approximately $19.13 million, at an average entry price of $63,503, with a liquidation price of $64,081. This position was opened 6 hours ago; its current unrealized profit stands at $180,000 (up 39%). The first take-profit order is set at $60,250, with the take-profit range extending as low as $47,500. Wallet address: 0xd6803927489a9aa01500695c635f7f6747973496

June 5 – Crypto analytics firm Onchain Lens reports that Zcash (ZEC) dropped below $400 amid a confirmed vulnerability in its Orchard Pool protocol. Separately, a trader dubbed the "BTC OG Insider Whale" is currently holding over $13.5 million in unrealized profits from a 3x leveraged short position on ZEC, while their 5x leveraged long position on Bitcoin (BTC) faces a loss of more than $17 million.

On June 5th, BitMEX co-founder Arthur Hayes announced he has sold all his ZEC holdings following an Orchard Pool vulnerability. He explained that while he believes the likelihood of a coin issuance scenario is minimal, he can’t cryptographically prove it’s impossible. Hayes argued that the privacy narrative—surrounding AI, governments, and big tech—demands absolute certainty, not just probabilistic impossibility. Hayes admitted that when he first learned about the vulnerability, he didn’t realize how it would upend his core understanding of ZEC’s value proposition. However, after ZEC’s price plunged 30%—a drop that pushed him to reevaluate his stance—he decided to lock in profits on his entire ZEC stake. Hayes noted he will keep reassessing his views: if his assumptions about ZEC are proven wrong, he will re-enter the market, with hopes of grabbing a lower entry price down the line. Hayes added that privacy is priceless, so he’s comfortable with buying back ZEC at a higher price in t