Zcash's newly established non-profit organization Sovright launches ZEC wallet recovery tool Argos

CoinFeed June 30 news, according to The Block report, Zcash's new non-profit organization Sovright released wallet recovery tool Argos, targeting early Zcash users whose funds got "stuck" due to ZEC Wallet Lite discontinuing maintenance since 2022, provided they still retain the old wallet mnemonic. Sovright's executive chairman and long-term community member Michelle Lai pointed out that those affected are mostly early and long-term ZEC holders using specific shielded addresses, and the loss amount is considered "quite substantial". Sovright said such long-standing unresolved issues are "roadblocks" it prioritizes fixing, and has launched Sovright Mining Pool on testnet, attempting to decentralize the currently highly concentrated Zcash hashrate.