Ethereum co-founder Vitalik Buterin transferred 400 ETH worth $1.05 million to the Railgun mixing service. This was noticed by SpotOnChain.
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
Before this, the programmer probably made a test transaction of 1 ETH. The transactions are confirmed by the platform data Arkham Intelligence.
SpotOnChain experts noted that over the past 10 months, Buterin sent 662 ETH to Railgun for a total of $1.91 million.
In April, journalist Colin Wu, commenting on the transactions of the Ethereum co-founder, noted that the service is used by North Korean hackers Lazarus Group. In 2022, Elliptic experts included Railgun among the popular alternatives to the Tornado Cash protocol, which fell under US sanctions.
Buterin responded to Wu that “privacy is fine.”
The protocol developer, bill, commented on SpotOnChain’s post:
Good job on the detailed explanation.
For future ref, it’s not accurate to call Railgun a mixer. It’s a private address system and all tokens are private key controlled just like any other wallet.
Privacy comes from using this address, not mixing or moving tokens. Here, Vitalik…
— bill 🛤️🔫 (@metamaskhe1p) August 19, 2024
He emphasized that the confidentiality of transactions in the solution is achieved not by mixing tokens, but by the absence of public on-chain data.
According to the dashboard on DuneRailgun’s key metrics showed a noticeable increase in April-May amid Buterin’s protocol discussions. The weekly transaction volume peaked at $47 million. The figure corrected in the following months.
On August 9, a wallet linked to Buterin moved 3,000 ETH (~$7.9 million at the time). In October 2023, the programmer explained that any transfers from his addresses are “almost always some kind of donation.”
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Source: Cryptocurrency
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