ZCash drops 41% after hired hacker uncovers four-year protocol exploit

The flaw had gone undetected for four years, and Decrypt said the full extent of its impact on the ZCash network remains unknown.

Summary

ZCash fell 41% early Friday morning after a hacker hired by the ZCash team uncovered a protocol exploit that had gone undetected for four years. The discovery raised fresh concerns about the privacy-focused network's security and the potential scope of any damage, though the full extent of the vulnerability's impact remains unknown, Decrypt reported.

Terms & Concepts
  • protocol exploit: A flaw used to abuse network rules
  • ZCash: A privacy-focused cryptocurrency network