Zcash remains embroiled in controversy over its "unlimited issuance" scheme, and $145 million worth of ZEC positions on Hyperliquid have been withdrawn early.
2026-06-05 17:26:17
According to CoinWorld, Zcash remains embroiled in controversy surrounding its alleged "unlimited issuance," with $145 million worth of ZEC positions withdrawn from the Hyperliquid platform. Due to the Orchard zero-knowledge proof vulnerability, Zcash theoretically faces the risk of unlimited issuance, fueling negative public opinion that erupted today. As of now, the open interest in ZEC contracts on the Hyperliquid platform has fallen significantly by 51.6% from its peak on June 3rd (approximately $371.8 million). The changes in open interest are as follows: May 29th to 30th, 8:00 AM: approximately $223 million; May 30th to June 3rd, 8:00 AM: peaked at $371 million; June 3rd to June 4th, 8:00 AM: decreased to $226 million; June 4th to present: further decreased to $180 million. Before the details of the vulnerability were widely disclosed and the price of the cryptocurrency was still stabilizing, nearly $145 million in positions had already been withdrawn from the market on the morning of June 3rd and 4th, indicating that large funds may have reacted to the vulnerability earlier than the public became aware of it.
Source:Internet
This content is for market information only and does not constitute investment advice.
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