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Zcash Price Drops as Hackers Use Privacy Token for Stolen Funds

Zcash Price Drops as Hackers Use Privacy Token for Stolen Funds

First seen 17 Oct 2026, 21:18 UTC • •
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ThreatCluster AI
ThreatCluster •October 17, 2026 at 22:08 UTC
  • •Zcash (ZEC) fell nearly 5% as hackers use it to launder stolen funds.
  • •Approximately $3.8 million in ZEC is linked to a Bitget exploit by alleged DPRK attackers.
  • •Retail sentiment around ZEC is extremely bearish, with a 17% price drop over the past month.

Zcash (ZEC) experienced a nearly 5% decline as analysts reported that hackers are utilizing the privacy token to launder stolen funds. On-chain analyst Specter indicated that approximately $3.8 million in ZEC, stolen from a Bitget exploit, is being shielded by alleged DPRK attackers. Other incidents cited include the CryptoBilis Ledger wallet hack and the Triple-A hack, which collectively resulted in a loss of $12 million. The use of ZEC for these illicit activities has led to a bearish sentiment among retail investors, with ZEC's price dropping over 17% in the past month. Cameron Winklevoss, co-founder of Gemini, emphasized the risks associated with identity checks, stating that they can lead to criminal attacks on individuals. The current trading price of ZEC is reported at $1,167, with retail sentiment remaining extremely bearish.

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Timeline

2026-10-15
Zcash price decline reported
Zcash fell nearly 5% as analysts reported its use in laundering stolen funds by hackers.
Finance.Yahoo
2026-10-15
Cameron Winklevoss comments on privacy risks
During Token2049, Winklevoss warned that identity checks can expose users to criminal attacks.
Finance.Yahoo

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Common questions

What amount of ZEC is involved in the hacks?
Approximately $3.8 million in ZEC is linked to a Bitget exploit.
What are the implications of Winklevoss's comments?
Winklevoss highlighted that identity checks could lead to increased risks for users, including criminal attacks.
How has the market reacted to these events?
Zcash has seen a decline of nearly 5% and a 17% drop over the past month, with bearish sentiment among investors.