A 10,000-piece profile picture NFT collection on Zcash is facing allegations from on-chain investigator ZachXBT, who says it raised approximately $17 million through a blind auction while delivering virtually no utility or ecosystem development. The project sold 8,000 NFTs at 1.5 ZEC each, generating approximately 25,305 ZEC in bids, or about $36.94 million at prevailing prices. After roughly 13,309 ZEC in refunds, the project retained approximately $17.5 million. The team also reserved 1,000 NFTs and receives a 5% royalty on secondary sales. The collection promoted privacy-enhancing digital identities with potential governance and community-access uses, but ZachXBT says none of those applications has materialized. Additional, unverified allegations link team members to earlier Ordinals-related scams. The episode has renewed questions about trust and transparency in Zcash’s NFT ecosystem, while ZachXBT’s involvement may increase community pressure but does not guarantee fund recovery.