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As per the on-chain indicators, Ethereum co-founder Vitalik Buterin has moved a total of 400 Ethereum (ETH), worth a staggering $1.05 million to crypto mixer Railgun earlier today.
When it comes to crypto transactions, Vitalik Buterin has been an advocate of user privacy and thus has been using crypto mixers for that same purpose. Previously, he also used Tornado Cash, however, amid sanctions on the crypto mixer, Buterin distanced himself and has been closer to Railgun ever since.
This is not the first time that Buterin transferred part of his ETH holdings to Railgun, the crypto mixer that functions similarly to the popular Tornado Cash and helps to obscure the user identity and transactions. As per the Web3 analytics platform SpotonChain, Buterin has transferred a total of 662 ETH worth $1.91 million to Railgun in the last ten months.
Vitalik Buterin (@VitalikButerin) just transferred another 400 $ETH ($1.05M) into the mixer #Railgun.
Vitalik previously mentioned that Railgun is an effective way to safeguard user’s privacy 👇
And over the past 10 months, he has continuously transferred 662 $ETH ($1.91M) in… https://t.co/YtfNBIjIEK pic.twitter.com/V7NUReaat9
— Spot On Chain (@spotonchain) August 19, 2024
Crypto mixer Railgun differs from Tornado Cash as it uses the Privacy Pool protocol, a concept introduced by Buterin himself in an academic paper. The Privacy Pool lets users create cryptographic proofs while verifying the funds’ origins and maintaining privacy. If regular users provide these proofs, only bad actors, such as the North Korea-backed Lazarus Group, wouldn’t have them. This could help law enforcement spot and block the bad actors more easily. The Ethereum co-founder said:
“Railgun uses the privacy pools protocol which makes it much harder for bad actors to join the pool without compromising users’ privacy.”
Vitalik Buterin Registers New Domain
As per the Ethereum Name Services (ENS), the Ethereum co-founder has registered a new domain dubbed “dacc.eth” wherein the dacc stands for “defensive accelerationism”.
This concept relies on the proactive development of key technological innovations such as privacy protection and cybersecurity with the goal of promoting free and healthier governance. As per the ENS record, Buterin registered this domain on Sunday, August 18. It will be interesting to see what the Ethereum co-founder plans to do with this domain name further. However, this step strengthens Buterin’s focus on privacy-related solution.
