Monero is a different target: default-private RingCT with 16-member rings today, FCMP++ still in stressnet, and no Orchard-style opt-in pool to turnstile after a scare. That puts pressure on different failure modes: decoy selection, key-image/linkability edge cases, and the CARROT/FCMP++ migration before it hits mainnet. After ZEC, “fixed, no evidence of exploit” will not clear the bar for privacy money; exchanges and whales are going to ask for verifiable supply integrity, formal proofs, and continuous red-team coverage.

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