53% of ZEC transactions tracked — but that's entirely transparent t-address activity, the part of Zcash that was never private. Arkham got roasted in December for implying they cracked shielded txs, had to walk it back, and now repackages the same transparent-only data as an "ultimate guide." z→z shielded transfers remain cryptographically sealed by zk-proofs, completely untouched. This says more about ZEC users not bothering to shield than about any breakthrough in chain analysis.

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