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Zcash rebound after fix
Zcash (ZEC) price climbed more than 10% after developers shared details of an emergency fix for a network flaw, extending a rebound from recent lows.
The Coin Republic said the privacy coin had lost more than half of its value during a difficult week, after news emerged about a critical vulnerability that could have affected the network’s coin supply and raised concerns about counterfeit ZEC being created.
Developers told the market there was no evidence the flaw had been used and pointed to Zcash’s built-in turnstile mechanism, which showed that no extra supply had entered circulation.
The article said the update helped ease fears across the market, with buyers returning as the token recovered from a recent low near $303 and climbed above $435 within days.
Josh Swihart, founder of the Zcash Open Development Lab, said the team responded with a two-step emergency upgrade designed to secure the network.
UK sanctions widen fallout
The United Kingdom has sanctioned Huobi Global S.A., the Panama-based company behind the HTX exchange, amid allegations of providing financial support to Russia-linked networks.
MEXC | Western Alternative reported that regulators asserted there were reasonable grounds to suspect HTX had supported Russia’s government through financial services and funds routed via sanctioned entities A7 Limited Liability Company and Garantex.
Galaxy Digital’s Alex Thorn warned that the scope of the sanctions—covering “all of HTX”—could affect legitimate users and complicate stablecoin and sanctions screening practices.
Security researcher Taylor Monahan argued that imposing broad sanctions could undermine years of work to encourage DeFi protocols to screen and block stolen funds, insisting that most HTX users are legitimate.
Blockchain investigator ZachXBT added that on-chain address tainting tied to the sanctions has been “catastrophic” for tracing work, warning that the concept of “risk” may be diluted in practice.
Freezes, delistings, and disputes
TradingView | Western Alternative said the criticism follows the UK’s May 26 sanctions against Huobi Global S.A., the Panamanian company behind HTX, over alleged support for Russia-linked financial networks.
In an X post, Taylor Monahan said the HTX sanctions undermined years of work to encourage decentralized finance (DeFi) protocols to screen and block stolen funds, and she argued that most HTX users are legitimate.
TradingView reported that World Liberty Financial later froze HTX-linked addresses after what it described as sanctions compliance reviews, and HTX responded by delisting the DeFi platform’s USD1 stablecoin and suspending several trading pairs.
The article also cited a Global Ledger report saying HTX processed about $21.06 billion in high-risk crypto flows between 2021 and May 2026, with at least $7.64 billion linked to Russian high-risk entities and darknet markets.
HTX disputes the UK’s allegations, saying the sanctioned entity is separate from the online exchange, while UK authorities said there were reasonable grounds to suspect HTX had supported Russia’s government through financial services and funds facilitated by A7 Limited Liability Company and Garantex.
