According to Wu Blockchain, the Zcash ecosystem project zkSNARKs announced the completion of its token/NFT auction. Official data shows that the auction attracted a total of 16,971 bids, with a total bid amount of 25,305 ZEC (approximately $36.94 million), and actual funds raised exceeding $17 million. On-chain detective ZachXBT later publicly criticized the project, calling it yet another typical 'cookie-cutter 10K PFP NFT series' with no real utility. He pointed out that the project cashed out eight-figure funds across different chains through a mint price as high as $2,000, a 10% team allocation, and a 5% royalty, allowing the team to 'retire and exit.' ZachXBT further noted that, due to the lack of endorsements from core ecosystem builders, the project is highly likely to be operated by fraudulent speculators from the Bitcoin Ordinals space. https://www.(wublock123.com)/news/zachxbt-questions-zksnarks-calls-them-ordinals-scam-no-utility-17m-funding-68673