Zcash NU7 activates, leaving 12,224 ZEC unspendable

Zcash’s NU7 network upgrade activated at block 3,543,405 at about 02:34 UTC on November 6, leaving approximately 12,224 ZEC in its Sprout privacy pool unspendable under current rules. The coins were not burned, but the network’s new rules disable the transaction format needed to move them. The remaining Sprout balance was valued in reports at roughly $15 million to $16 million, depending on the market price used. The activation record and ZecStats data place the pool balance at about 12,224 ZEC. The network data does not identify the owners or establish how much of the balance remains accessible to people who still control their keys. NU7 rejects version 4 transactions, the only format that supports spending Sprout funds. The upgrade’s technical specification says a future network upgrade could potentially restore access, either by re-enabling that format or introducing another way to retrieve the funds. It also warns that spending them may never be enabled again. No recovery mechanism has been approved. The Sprout pool is Zcash’s oldest shielded pool, introduced with the network in 2016. It had been closed to new deposits, while existing funds could still be withdrawn before...