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$ZEC In the past year, Zcash has experienced the collective departure of its core team and an unlimited issuance vulnerability that has existed for four years (this vulnerability might have served as the trigger for ZEC's collapse for a period of time), which has concentratedly exposed its shortcomings in underlying code security, internal governance structure, and decentralized concept. Especially the fatal vulnerability incident in mid-2026, although the team managed to hold its ground through subsequent technological upgrades (Ironwood) and the endorsement of Wall Street institutions (such as Grayscale's launch of the Zcash spot ETF), the trust rift of "privacy protecting counterfeits" has become an indelible mark in its development history. In my personal opinion, the sudden surge in prices due to positive news at this stage is the final harvest for retail investors before the collapse!