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cryptoJun 11, 2026, 2:33 PM

Allium Reveals $72M Profitable ZEC Shorts Before Vulnerability Disclosure

Analytics firm Allium identified five large short positions on Zcash (ZEC) totaling over $72 million on Hyperliquid, opened just days before a critical Orchard pool vulnerability was discovered. The bug was found on May 29 but disclosed on June 5, triggering a price crash from $685 to around $250.

ZEC

Blockchain analytics firm Allium has uncovered five major profitable short positions on Zcash (ZEC) on the Hyperliquid exchange, with a combined value exceeding $72 million. The positions were opened on May 25–26, shortly before a critical vulnerability was identified in Zcash’s Orchard pool on May 29. The bug was publicly disclosed only on June 5.

Following the disclosure, ZEC’s price collapsed from $685 to a local low near $250. Allium also reported that trading volume for ZEC on Hyperliquid surged on May 26, with peak hourly turnover reaching $283 million—12–13 times higher than normal levels.

The most active trading hour occurred on June 5, during which ZEC volume on Hyperliquid exceeded $560 million as the token traded near its bottom. The data suggests that the shorts were positioned ahead of the vulnerability news.

Source: ForkLog