Anthropic's AI Just Found a Bug That Sent Zcash Down 40% in 1 Day. Here's Why That's Bearish for Ethereum.
Cybersecurity is now something that crypto investors must be more aware of than ever.
Anthropic's AI Just Found a Bug That Sent Zcash Down 40% in 1 Day. Here's Why That's Bearish for Ethereum.
Overview
Anthropic released Claude Opus 4.8 to the public on May 28. Within 24 hours, a security researcher hired to audit Zcash (CRYPTO: ZEC) used the model to find a four-year-old vulnerability that sent the coin's price into a tailspin once it was disclosed on the night of June 5. In short, if exploited, the bug could have allowed the silent minting of an unlimited quantity of counterfeit ZEC, badly diluting the value of everyone else's coins. Zcash lost about 40% of its value overnight, and that's without the market having any evidence or confirmation that hackers ever actually counterfeited any coins.
Days later, it still isn't clear whether the Zcash exploit was ever used to mint illicit coins. But the implications of this sequence of events will echo far beyond Zcash alone. The bigger story is that every chain whose value depends on smart contract code could soon be facing similar issues, and that's where a new bearish headwind for Ethereum (CRYPTO: ETH) comes into play. Let's map out this emerging threat and determine what investors should do about it.
Image source: Getty Images.
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Originally published at www.fool.com.
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