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Cryptonews

Arthur Hayes Sells All ZEC After Orchard Bug Disclosed; Hard Fork Ran June 3, 2026

Arthur Hayes said on June 5, 2026 that he sold his entire Zcash (ZEC) position after a flaw in Zcash's Orchard shielded pool raised questions about whether counterfeit ZEC could be created. The issue was identified on May 29, 2026 and patched via an emergency hard fork on June 3, 2026, while Hayes argued that even an "extremely unlikely" minting risk that cannot be cryptographically ruled out undermines the privacy thesis. ZEC later fell 30–36% from recent highs, sliding from above $600 to about $390 and wiping more than $3 billion in market cap.
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