A four-year-old vulnerability that could have fueled unlimited minting of ZEC was discovered in one of Zcash’s private transaction pools—a core feature of the privacy-focused network—fueling investor panic and sending ZEC down more than 40% in a single day in response. The network’s native token has fallen 35% in the last 24 hours, recently changing hands at $339. During the selloff, it briefly traded below $300, registering its lowest price since early April and cutting billions of dollars from its market cap. Prior to its steep decline, the token had grinded up from below $200 in March to as high as $675 at the end of May.