zkSNARKs (Zcash NFT Project)

Summary

zkSNARKs is an anonymously-run, 10,000-piece Zcash-based PFP NFT collection ('shielded identities') sold via a blind auction on the Zilkroad marketplace that closed September 17, 2026, netting the team an estimated $17-17.5 million. On-chain investigator ZachXBT publicly accused the project of extracting these funds while delivering none of its promised governance framework, community tooling, or ecosystem partnerships, and of retaining a 10% free team allocation plus 5% secondary royalties against roughly $2,000 in minting costs. Separately, NFT-community figure Leonidas (LeonidasNFT) alleged, without independent verification, that the same team was previously behind Ordinals-related projects characterized as exit scams. The story broke September 19, 2026 and remains a fast-developing, largely unverified allegation from named individuals rather than a regulatory or judicial finding; Zcash's shielded-transaction design also makes independent on-chain verification of fund flows unusually difficult.