ZCash Sees Significant Growth; Bitcoin Faces $13 Billion Theft Allegations
ZCash Sees Significant Growth; Bitcoin Faces $13 Billion Theft Allegations
Recent market movements show ZCash (ZEC) experiencing a substantial surge, with its price appreciating from $400 to $750 and its shielded pool climbing to 23% of its total supply. Concurrently, Bitcoin (BTC) is at the center of a geopolitical controversy as China alleges the US stole $13 billion worth of BTC in a hack, involving 127,426 BTC from a Chinese mining pool.
ZCash Price and Usage Surge Amid Increased Adoption
ZCash (ZEC) has demonstrated remarkable market performance, with its shielded pool usage expanding to cover 23% of its entire supply. This growth in network activity has coincided with a significant price appreciation for ZEC, which saw its value jump from approximately $400 on November 1 to reach highs of $750, indicating strong investor confidence and utility.
Bitcoin Targeted in Alleged $13 Billion Hack
In a separate development, Bitcoin (BTC) has been implicated in a major international incident. China has accused the United States of orchestrating a $13 billion hack that resulted in the theft of 127,426 BTC. This accusation follows a report from Arkham in August, which had previously uncovered details of the undisclosed heist from the Chinese mining pool LuBian, raising serious concerns about cryptocurrency security and geopolitical cyber warfare.