Cypherpunk Technologies (CYPH) shares plunged more than 37% on June 5. The company maintains a primary strategy of accumulating Zcash (ZEC) for its corporate treasury.
The decline followed the disclosure of a critical bug in the Zcash Orchard shielded pool. This vulnerability potentially allowed for the creation of unlimited counterfeit ZEC.
The price of ZEC fell as much as 45% following the announcement. Developers discovered the bug on May 29.
The Zcash team applied a patch to the network by June 2. Cypherpunk reported zero evidence that any party used the exploit.
The firm reaffirmed its ZEC accumulation strategy. Management praised the Zcash team for resolving the security flaw.