Railgun denies being used by North Korea as it nears $1B total volume
Privacy protocol Railgun, which security analysts have labeled a “prime alternative” to Tornado Cash, denied U.S.-sanctioned entities are using it.
Crypto privacy protocol Railgun has denied being used by North Korea and other United States-sanctioned entities to launder cryptocurrency, arguing its zero knowledge-based tech prevents this and the accusations have “no evidence.”
It comes as the Railgun platform’s total volume nears the $1 billion mark, boosted by a recent X post from Ethereum co-founder Vitalik Buterin praising and defending the privacy protocol.
Railgun, founded in January 2021, uses zero-knowledge (ZK) cryptography to shield wallet balances, transaction history and transaction details allowing users to use decentralized apps (DApps) on Ethereum or other supported chains while remaining private.
Blockchain security firm Elliptic once labeled Railgun a “prime alternative to Tornado Cash” after the U.S. government imposed sanctions against the crypto mixer.
In January 2023, the FBI stated that North Korean cyber attackers used Railgun to launder more than $60 million worth of Ether
from the 2022 Harmony Bridge heist.
In an X post responding to crypto reporter Colin Wu, Railgun denied that Lazarus had used the privacy protocol, calling it “false reporting.” #etf
