A Bug Could Have Printed Unlimited Zcash For Four Years. Did Anyone?

A critical vulnerability in Zcash’s Orchard shielded transaction circuit existed for four years before discovery, potentially allowing unlimited counterfeit ZEC coin creation without detection. On-chain analysis found no sign of actual counterfeiting, as the supply remained on schedule and the shielded pool showed record highs rather than drainage. However, the analysis cannot definitively rule out smaller undetectable thefts due to privacy features inherent in Zcash’s design.