Ethereum Creator Moves $1 Million Through Privacy Tool

Vitalik Buterin, who helped create Ethereum, just moved a lot of money in a way that’s hard to track. On August 19, he sent 400 ETH, worth about $1.05 million, to a tool called Railgun. This tool hides where crypto money comes from and where it goes.

Arkham Intelligence, a company that watches crypto movements, spotted this transfer. Another group called SpotOnChain confirmed it. They said Buterin had sent even more money to Railgun before – about 662 ETH (worth $1.91 million) in the last ten months.

Buterin’s Use of Ethereum Railgun Highlights Privacy and Ethics

Railgun works like another tool called Tornado Cash, which governments banned for helping criminals hide money. But Railgun uses a new method Buterin wrote about called Privacy Pools. This method lets honest users prove their money comes from good places without showing all their details. It could help catch bad guys like hackers who need help proving where their money came from.

Buterin said, “Railgun makes it harder for criminals to use it without hurting honest users’ privacy.”

As Buterin keeps using Railgun, more people are trying it, too. Almost 10,000 different Ethereum users have used Railgun, which has handled $1.6 billion in transfers so far.

We are still determining why Buterin moved this money. Some people think he might give it to charity. He’s done this before. In 2021, he gave over $1 billion in Shiba Inu coins to help India fight COVID-19. Recently, he also gave about $500,000 to help animals.

Buterin got this money from selling tokens with animal themes. He asked the people who made these tokens to give money straight to charities in the future.

This move by Buterin shows how important privacy is in the crypto world. It also shows how new tools can help honest users while making it harder for criminals. As more people use tools like Railgun, we might see significant changes in how crypto transfers work.

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