one of these is a fake ZT 0450cf

[vwb563]

Both look legit to me. If ones a fake, then it’s the best fake I’ve ever seen.

 

[115Italian]

I am suspect of the bottom knife. “Ser” looks off in the serial number. Just a guess.

 

[JQuirl]

I have a few 0450s. They are both real. Kai changed a few design details. Spyderco does the same. The lettering and font have slightly changed through the last few years. There is NO fake 0450s as well built as the one that you took the picture of.