Vitalik Buterin Transfers $1.05M in ETH to Railgun: A Privacy-Focused Move

Ethereum co-founder Vitalik Buterin has transferred 400 ETH, worth approximately $1.05 million, into the crypto mixer Railgun. As reported by Colin Wu, this recent transaction, which took place at 12:06 UTC+8 today, continues Buterin’s trend of using privacy-focused tools to safeguard cryptocurrency transactions. 

Spot On Chain data indicates that over the past ten months, Buterin has moved a substantial 662 ETH to Railgun, equating to about $1.91 million. This reinforces his strong support for privacy-enhancing technologies in the crypto space. The latest transfer follows a series of previous actions by Buterin involving Railgun. Yesterday, he sent 1 ETH to a new address, 0x18…F10E, and deposited 0.998 ETH into Railgun. 

This action underscores his ongoing commitment to maintaining user privacy and security within the Ethereum ecosystem. Railgun, known for its robust privacy features, has garnered significant attention from the crypto community due to its ability to obscure transaction details and protect user identities.

Buterin’s preference for Railgun shifts from his earlier endorsement of Tornado Cash, another privacy-focused platform. Tornado Cash faced legal challenges and scrutiny, which led Buterin to pivot towards Railgun as a more reliable alternative. This transition highlights the evolving landscape of privacy tools in the cryptocurrency realm and reflects Buterin’s ongoing efforts to support technologies that enhance user confidentiality.

In addition to his recent transactions, Buterin has a history of substantial crypto donations. Earlier this month, he moved $8 million worth of ETH to a new multi-signature wallet. Besides Ethereum, Buterin has generously donated various altcoins gifted by different crypto projects. This pattern of philanthropy further illustrates his commitment to advancing the crypto ecosystem and supporting innovative solutions. As of press time, Ethereum is trading at $2,587.27, with a 24-hour trading volume of approximately $10.2 billion. Despite a 1.44% decrease in the past 24 hours, Ethereum remains a key player in the cryptocurrency market.