- Ethereum co-founder Vitalik Buterin has transferred assets to Railgun again, extending a months-long streak.
- The Ethereum co-founder’s Railgun interactions continue despite the protocol’s previous links with North Korean hackers.
- Buterin has previously hailed the protocol for its efforts to check abuse.
Contrary to strongly held opinions in some circles, blockchain transactions are public and quite easy to trace. This poses a privacy hurdle for users, particularly public figures like Ethereum co-founder Vitalik Buterin.
To tackle this problem, the Ethereum co-founder had often turned to the prominent crypto mixer Tornado Cash. But with the platform recently drawing the ire of global regulators, Buterin appears to have found a new love: Railgun.
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Over the past six months, the Ethereum co-founder has regularly sent assets to the privacy protocol. Wednesday, May 22, saw this trend continue.
Vitalik Moves $300K
Vitalik Buterin’s romance with Railgun continues. On Wednesday, May 22, the Ethereum co-founder sent 80 ETH worth about $300,000 to Railgun.
As with most Ethereum transfers from the developer, the reasons for the recent move remain unclear. In the past, however, he has asserted that he has not sold ETH for profit since 2018, explaining that transfers are usually tied to donations.
Interestingly, in April 2024, the Ethereum co-founder had sent 100 ETH to Railgun, which was also worth about $300,000 at the time.
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Buterin’s continued use of the protocol comes despite its links to North Korean state-sponsored hackers. Lazarus Group, for one, laundered at least $64 million from the June 2022 Harmony Bridge hack through the protocol.
Responding to these North Korean hack links, the Ethereum co-founder argued that the platform had since implemented “privacy pools,” a concept that offers a method of separating transactions from suspicious sources and legitimate ones in the mixer. Buterin championed the concept in September 2023 as a means of preserving privacy while offering a path to address regulatory concerns.
On the Flipside
- The purpose of Buterin’s recent ETH transfer remains unclear.
- Railgun has strongly denied claims that North Korean hackers have used the privacy protocol.
Why This Matters
The use of Blockchain privacy tools continues to be a polarizing subject in light of its frequent abuse by bad actors. In the past, Vitalik Buterin had favored Tornado Cash for his privacy needs but pivoted to Railgun in recent months as cases against Tornado Cash developers intensified. The move suggests that the Ethereum co-founder may see Railgun as an ideal replacement offering privacy and checks against abuse.
Read this for more on Buterin’s Railgun use:
Buterin Endorses Railgun Despite Usage by North Korean Hackers
See why Buterin is calling for a cautious approach to AI:
Why Ethereum’s Vitalik Wants AI To Develop at a Slower Pace
