Deep Tide TechFlow message. On September 19, according to blockchain analyst ZachXBT (@zachxbt), a recent 10K PFP NFT project issued on the Zcash chain that uses zkSNARKs is suspected of scamming retail investors. The project used a blind auction format, attracting a total of 16,971 bids. It was ultimately settled at 1.5 ZEC (about $2,190), completing an allocation of 8,000 units, for a total transaction volume of 25,305 ZEC (about $36.94 million). Refunds of 13,309 ZEC (about $19.43 million) have been returned in batches. ZachXBT pointed out that the project raised approximately $17 million, while setting aside 10% for the team, 5% for royalties, and about $2,000 in minting fees—but has no practical utility, seemingly following the “run off with the money” scam pattern commonly used by Ordinals collections.