Cypherpunk Technologies shares plummeted over 47% on June 5. The sell-off followed the disclosure of a critical vulnerability in the Zcash blockchain that could have allowed for counterfeit tokens.
Cypherpunk’s primary investment strategy focuses on Zcash. The security concerns triggered a massive sell-off, driving the stock to its lowest price since March.
Shares recovered 13% in pre-market trading on June 8. Cypherpunk reaffirmed its commitment to the Zcash strategy and noted no evidence exists that the vulnerability was ever exploited.
The security flaw is now fixed. However, the private nature of Zcash transactions makes it difficult to confirm if the vulnerability was ever abused.