Ethereum co-founder Vitalik Buterin has made another significant transaction using the privacy protocol Railgun, moving 80 ETH (nearly $300,000) today. Buterin has been actively using the service for several months, typically with smaller amounts, as indicated by on-chain data aggregated on Arkham Intelligence.
Previously, in April, Buterin transferred 100 ETH (then valued at $300,000) through Railgun and voiced his support for the protocol. He highlighted Railgun’s use of the privacy pools protocol, which enhances privacy without compromising users’ security by preventing bad actors from joining the pool.
Railgun leverages ZK SNARKs, a zero-knowledge proof technology, to allow users to conceal their wallet addresses during transactions on open-ledger blockchains. Despite being often mislabeled as a mixing service like the sanctioned Tornado Cash, Railgun is fundamentally a privacy platform.
In a post on X, Buterin reiterated the importance of privacy, stating “Privacy Is Normal” alongside details of his Railgun transaction. He emphasized that unlike Tornado Cash, Railgun prevents bad actors from joining the common pool.
However, Railgun has faced instances of misuse. In January 2023, $63.5 million in ether stolen from the Horizon bridge by suspected North Korean hackers was reportedly moved to Railgun, according to ZachXBT. In April, Railgun refuted claims of its use by North Korean hackers following reports suggesting that the hacking group Lazarus may have exploited the platform.