ZEC price now: Zcash bounces about 45% as developers propose Ironwood upgrade
Zcash rebounded about 45% from Friday’s low near $300, trading around $437 on Monday, but it was still down roughly 22% for the week. The drop followed disclosure of a counterfeiting bug in the Orchard shielded pool, where an attacker could have minted unlimited fake ZEC and withdrawn funds without detection. The flaw had gone unnoticed since 2022. Shielded Labs, the Zcash Foundation, and the Zcash Open Development Lab quickly patched the bug through emergency network upgrades with mining pools ViaBTC and Foundry. On June 6, they proposed “Ironwood,” a longer-term upgrade to restore supply verification. Ironwood would launch a new privacy pool using repaired code, stop new coin creation in the old Orchard pool, and let any node operator sum balances across pools to confirm total supply is correct without trusting developers or waiting for migrations. The upgrade could also show whether the bug was exploited, since counterfeit coins would be exposed or trapped when moved. Developers have not set a timeline for rollout.
