According to U.Today, Ethereum co-founder Vitalik Buterin has once again caught the attention of the cryptocurrency community with a significant transfer. Earlier today, the Canadian programmer moved approximately $1.06 million worth of ETH to a new address, as reported by Arkham Intelligence. These funds were subsequently deposited into the Raligun cryptocurrency mixer, which facilitates private transactions in decentralized finance using zero-knowledge (ZK) cryptography.
Raligun has gained prominence following Buterin's endorsement earlier this year. In April, Buterin sent 100 ETH through the coin mixer to show his support for the project. This recent move has stirred discussions within the cryptocurrency community, with Buterin defending his actions by stating that "privacy is normal." Raligun allows users to prove that their coins are legitimately sourced without compromising their privacy.
Coin mixers have a controversial reputation, often being associated with illicit activities. In 2023, the FBI alleged that North Korean hackers used privacy protocols to launder stolen cryptocurrency. However, Raligun refuted these claims, stating that the Lazarus Group, a hacker organization allegedly run by the North Korean government, was blocked from using the protocol through the Private Proofs of Innocence tool, which prevents transactions from undesirable actors.
Buterin has been a long-time advocate for enhancing privacy in the crypto space, supporting projects like Zcash. Despite his advocacy, privacy-focused projects have faced scrutiny from regulators due to their potential misuse by bad actors.