Ethereum co-founder Vitalik Buterin recently transferred 400 Ether (ETH), equivalent to approximately $1.05 million, to the crypto mixer Railgun, according to data from Arkham Intelligence.
The transaction, which occurred on August 19, was confirmed by the Web 3.0 analytics platform SpotOnChain. The platform also reported that over the past ten months, Buterin had moved a total of 662 ETH, valued at around $1.91 million, to Railgun.
Railgun operates similarly to the sanctioned Tornado Cash protocol by assisting users in masking their transactions. However, Railgun utilizes a privacy pool protocol.
Privacy pools allow users to create cryptographic proofs that verify the legitimate origins of their funds while maintaining privacy. This method ensures that users with good intentions can provide these proofs, potentially isolating malicious actors, such as the North Korea-backed hacker group Lazarus Group, who may be unable to generate them.
The specific reason behind Buterin’s recent transfer remains unclear. However, some community members speculate that it might be linked to charitable donations. Buterin has a well-documented history of making significant cryptocurrency donations.
In 2021, he donated over $1 billion in Shiba Inu tokens to the India Covid-Crypto Relief Fund. More recently, he donated 200 ETH, worth over $500,000, to a charitable fund for animal welfare.
Buterin noted that these funds were generated from selling various animal-inspired tokens and encouraged token issuers to allocate funds directly to charities in the future.
