$ZEC Chain analyst ZachXBT has criticized the zkSNARKs NFT project on Zcash, labeling it a potential scam. The project raised $17 million through blind bidding, with a trading volume of 25,305 ZEC ($36.94 million). On-chain data shows that $19.43 million (13,309 ZEC) in refunds have been issued. ZachXBT claims the project lacks utility and exhibits tactics consistent with exit scams seen in the Ordinals series.
It is a matter of fact, when this scam comes out ZEC will fall like a falling knife.
It is a matter of fact, when this scam comes out ZEC will fall like a falling knife.