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BlockBeats news, on June 5, Zcash founder Zooko stated that on May 29, security researcher Taylor Hornby discovered a severe forgery vulnerability in the Zcash Orchard pool and disclosed it to the Zcash Open Development Lab (ZODL). ZODL then coordinated an emergency response within the ecosystem, and the fix was completed on June 2. Shielded Labs stated that the vulnerability is real and exploitable. Taylor wrote an exploit in a local test environment that could generate unlimited, undetectable forged ZEC. Due to Orchard's privacy features, it is impossible to cryptographically prove whether the vulnerability was exploited before it was fixed, but they believe the likelihood of prior exploitation is low. Shielded Labs is exploring a network upgrade proposal to deploy a new shielded pool and implement turnstile accounting for all tokens coming from the Orchard pool. This would allow anyone to verify the integrity of Zcash's supply and prove that no forged ZEC exists in the Orchard pool.

According to Bloomberg, the US House Ways and Means Committee is preparing to legislate the structure for cryptocurrency taxation, with a release expected as early as Friday and a hearing scheduled for early next week. Committee Chairman Jason Smith has made digital asset tax frameworks a top priority, and the Treasury Department is involved in the process. The seven proposed bills include provisions such as the timing of taxation on mined or staked tokens, exempting certain stablecoin transactions from capital gains tax, equal treatment of digital assets and securities for tax purposes, a safe harbor for foreign investors trading US securities, as well as expanding wash sale rules to include digital assets.

According to Lookonchain monitoring, the newly created wallet 0x6436 once again withdrew 140,960 HYPE (9.48 million US dollars) from the exchange. Over the past three days, it has cumulatively withdrawn 902,317 HYPE (64.9 million US dollars).