Everything Is Plummeting, But the Situation Is Even Worse for This Altcoin: Allegations of a Fake Token Caused a Nearly 50% Drop
Following today's massive market drop, claims that a fake token may have been minted for an altcoin deepened the decline. The privacy-focused altcoin Zcash (ZEC) faced intense selling pressure following the discovery of a critical security vulnerability in its protected trading pool called Orchard. Losing over 50% of its value in the last 24 hours, ZEC’s market capitalization has been wiped out at approximately $5 billion.