Zcash bounces 45% as developers propose new Ironwood upgrade

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Zcash bounces 45% as developers propose new Ironwood upgrade The plan would let anyone verify that no counterfeit coins are circulating, addressing the patched bug that triggered last week's crash. ZEC is still down about 22% on the week. By Shaurya Malwa | Edited by Omkar Godbole Updated Jun 8, 2026, 8:17 a.m. Published Jun 8, 2026, 8:10 a.m. 2 min read Make preferred on What to know : Zcash has rebounded about 45% from last week’s low after developers proposed a fix for a critical counterfeiting bug in its privacy-focused Orchard pool. The Ironwood proposal would move users to a new, repaired privacy pool and let anyone running Zcash software verify that no more than the correct amount of ZEC exists. As coins migrate out of the old pool, any counterfeit ZEC would either be exposed or stranded and destroyed, potentially revealing whether the flaw was ever exploited, though developers say abuse is unlikely. Zcash has clawed back much of last week's losses, rising about 45% from the low near $300 it hit Friday as developers proposed a fix for the flaw that triggered the sell-off. ZEC traded around $437 on Monday, according to CoinDesk data, though it remains down roughly 22% over the week. The token plunged after Shielded Labs, a nonprofit developer on the network, disclosed a counterfeiting bug in Zcash's Orchard pool, the part of the system that hides transaction details. The flaw, undetected since 2022, could have let an attacker create unlimited fake ZEC without anyone noticing and withdraw tokens from the protocol's shielded pool - which offers opt-in priv Developers, including Shielded Labs, the Zcash Foundation, and the Zcash Open Development Lab, patched the bug within days through emergency network upgrades, coordinated with the mining pools ViaBTC and Foundry. On June 6, the same groups proposed Ironwood, a plan to restore users' ability to confirm the coin's supply is sound. Ironwood would create a new privacy pool using the repaired code and block the creation of new coins in the old Orchard pool. Once it activates, anyone running the Zcash software could add up the balances across pools and confirm that no more than the correct amount of ZEC exists. Users would not have to trust the developers' word or wait for funds to migrate. The plan could also reveal whether the bug was ever abused. As users move coins out of the old pool, any counterfeit ZEC would either be exposed when it tried to leave or be stranded and destroyed. Shielded Labs has said it believes exploitation was unlikely. The proposal has drawn attention beyond the Zcash community. In his latest newsletter, investor Chamath Palihapitiya described Ironwood as a way for anyone running a node to tally the balances across pools and "verify the supply is clean." Developers have not given a firm timeline for the upgrade, saying the work to build, test and coordinate it across the network could take longer than expected. More For You XRP steadies above $1.10 to bounce from four-month lows By Shaurya Malwa 2 hours ago XRP recovered from four-month lows on elevated volume, but the token remains trapped below key resistance levels even as ETF inflows and exchange outflows continue to build. What to know : XRP has stabilized after a sharp sell-off, with buyers defending the $1.09 area but the token still trading within a broader downtrend. Heavy exchange outflows and steady ETF inflows suggest accumulation beneath the surface even as price action looks more like bottom-fishing than a new rally. Traders are watching support... Read full story Latest Crypto News XRP steadies above $1.10 to bounce from four-month lows 2 hours ago Bitcoin pump to $63,700 triggers the most short liquidations since late April 2 hours ago Bitcoin spikes, then dumps, from $63,700 as analysts assess Strategy's next BTC moves 3 hours ago Bitcoin falls back below $63,000 as Iran-Israel trade strikes and Korean stocks crash 3 hours ago A quick review of the Ways and Means tax bills: State of Crypto 11 hours ago Michael Saylor revives bitcoin-buy speculation as scrutiny over Strategy grows 14 hours ago Top Stories Bitcoin near $60,000 today vs February: Institutional sentiment has flipped 16 hours ago America’s largest banks are building a new digital currency network to stop a massive deposit drain Jun 6, 2026 Satoshi-era bitcoin at center of $285 billion lawsuit moves after 14 years Jun 6, 2026 A massive hiring wave reveals trading firms are no longer viewing Polymarket as a niche betting tool Jun 6, 2026 Why diehard bitcoin purists aren’t sweating the massive price crash that wiped out $200 billion Jun 5, 2026