Dragonfly partner says concerns over ZEC bug are excessive

Haseeb Qureshi, Managing Partner at Dragonfly, has stated that market concerns regarding a recently patched Zcash (ZEC) vulnerability are excessive. He explained that even if the vulnerability were exploited, an attacker could only counterfeit ZEC within the shielded privacy pool, where transactions and balances are not public. To move these funds to an exchange, they would have to be converted to a publicly traceable transparent address, a process that would reveal any abnormal increase in supply. This means any exploit would likely be detected before it could impact the broader market, he noted. Qureshi also argued that only holders of shielded addresses would be directly affected, while the majority of ZEC holders, including those using exchanges, would not be impacted. Furthermore, he added that only about 1% of the ZEC held in the shielded pool has been converted to transparent addresses. Qureshi described this as a signal that actual stakeholders are not significantly concerned about the vulnerability being exploited.