Zcash Rebounds 70% to $433 After Fixing Critical Orchard Bug, Ironwood Proposal Launched

According to Bitcoinist and official X announcements, last week Zcash (ZEC) crashed over 50% to $250 after reports of a critical vulnerability in its Orchard zero-knowledge circuit that could allow attackers to create counterfeit tokens undetected. The price rebounded 70% to $433 following an emergency patch coordinated by ZODL and ecosystem participants.

Shielded Labs, the Zcash Foundation, and other stakeholders announced the Ironwood proposal on June 6, designed to restore users' ability to independently verify Zcash's circulating supply and prevent future counterfeiting. Under Ironwood, any attempted fake coins exiting the Orchard pool would be blocked and destroyed, preserving supply integrity.