Zcash's Privacy Narrative Challenged by New Arkham Feature

According to BlockBeats, Zcash (ZEC) has recently gained attention due to its strong performance, particularly after the U.S. government seized 127,000 BTC from Chen Zhi of the 'Crown Prince Group' and the arrest of Qian Zhimin, the main suspect in a money laundering case involving 60,000 BTC. ZEC's price surged past $750, driven by its privacy narrative. However, this narrative has been challenged by a new feature launched by blockchain tracking platform Arkham. Earlier today, Arkham introduced on-chain monitoring for Zcash, marking over half of Zcash's protected and unprotected transactions. These transactions, amounting to $420 billion, have been linked to known individuals and institutions. Arkham's de-anonymization efforts on Zcash include: 53% of Zcash transactions have been tagged; $420 billion in transaction volume has been attributed to specific entities; 48% of all inputs and outputs have been assigned to specific entities; 37% of Zcash's balance, totaling $2.5 billion, has been marked.