Arthur Hayes Sells Entire Zcash Position After Orchard Exploit, ZEC Drops Nearly 50%

Summary

BitMEX co-founder Arthur Hayes sold his entire Zcash (ZEC) position following the Orchard pool exploit, a counterfeiting vulnerability in the Zcash protocol. Hayes declared "the Holy Trinity is dead," referring to the cryptographic guarantees of Zcash. His high-profile exit deepened a selloff that pushed ZEC down nearly 47% in a single day. While Hayes acknowledged that new counterfeit minting is "extremely unlikely," he noted the exploit cannot be formally ruled out cryptographically, undermining confidence in the privacy-focused cryptocurrency.

Source

bskyArthur Hayes Sells Entire Zcash Position After Orchard Exploit, ZEC Drops Nearly 50%news.bitcoin.com