btc

The big zero coin (ZEC), as a leading anonymous cryptocurrency focused on privacy transactions, once attracted a large number of investors with its unique narrative of "anonymous transfers." However, its fatal flaw of long-term highly centralized computing power has made it a tool for large players to repeatedly harvest small investors, making it a typical case of "computing power control cutting leeks."

ZEC uses the Equihash mining algorithm, and there were vulnerabilities in the early power distribution mechanism, with leading mining pools occupying over 50% of the total network computing power for a long time, forming a de facto "computing power monopoly." Whales and mining pools holding absolute computing power can influence market prices by controlling the pace of block generation and manipulating transaction confirmation efficiency. Their harvesting path is highly regular: first, they create a false impression of price increases through joint manipulation, attracting small investors with the hype of being the "leader in the anonymous coin track"; after small investors buy at high prices, the mining pool suddenly concentrates on selling a large amount of ZEC it has hoarded, leading to a price crash; during the crash, leveraged traders are forced to close their positions, further exacerbating market panic, forming a chain of harvesting events of "dumping—liquidation—dumping again."

A typical crash occurred in December 2025: after ZEC increased by over 15% in a single day, a large sell order suddenly appeared, followed by a price drop of 22%. A large number of small investors suffered heavy losses due to chasing the price at high levels and leveraged liquidations. More troublesome is that ZEC's anonymity makes it difficult to trace the flow of funds, and small investors cannot identify manipulators when seeking to protect their rights, ultimately having to accept their losses. The core contradiction of this harvesting is not a technical flaw, but rather a power imbalance under computing power monopoly—computing power controlled by a few has ultimately turned into a sickle for harvesting ordinary investors.