Zcoin posted an official statement about the vulnerability discovered by the team. The statement stated that the protocol itself was vulnerable and affected all Zerocoin. The loophole led to the creation of “fake tokens”, but this figure is less than 1% of Zcoin's circulation supply. This is not a code defect, but an encryption defect in the "Zerocoin Protocol" that existed from the beginning. This means that any project that implements the Zerocoin protocol may be attacked. This vulnerability caused the project team to decide to opt out of the agreement and switch to the Sigma protocol. The main network conversion time is about six weeks. The report notes that further details on the cryptographic vulnerability will be announced later, including the number of counterfeit tokens.