Zcash jumps 45% as developers propose Ironwood upgrade after counterfeiting bug

Zcash (ZEC) rebounded about 45% from last week’s low after developers proposed the Ironwood upgrade to address a critical counterfeiting bug in its Orchard privacy pool. ZEC traded around $437 on Monday after bottoming near $300 on Friday, according to CoinDesk, but remains down roughly 22% on the week. Ironwood would move users to a new repaired privacy pool and let anyone running Zcash software verify the supply by tallying balances across pools, potentially exposing or stranding any counterfeit ZEC. Shielded Labs, the Zcash Foundation and the Zcash Open Development Lab patched the bug via emergency upgrades coordinated with ViaBTC and Foundry; no timeline was given for Ironwood.