Aztec Revives Private Payment Wallet zk.money After Three-Year Hiatus
Aztec Labs has relaunched zk.money, a self-custodial privacy wallet on its Aztec Network. The wallet allows users to conceal balances, payment amounts, and transaction parties from Ethereum's public ledger.
The original product served over 75,000 unique wallets, processing more than $100 million in transactions before it was shut down in 2023. This new version operates with DAI as its internal currency and converts USDC and USDT upon deposit.
Aztec Labs CEO Joe Andrews said the limits on deposits and withdrawals are due to experimental cryptography and will rise as confidence grows. The company plans to raise these caps when a later version goes live, but for now, each transaction must stay below $2,500, with a shared daily deposit allowance of $50,000.
A separate system called Oxide checks payments for errors caused by bugs in the network's software, and users will be able to migrate to the updated network once a fix is ready. Aztec Labs emphasized that the wallet uses self-custodial wallets and immutable smart contracts, with no privileged administrator role capable of moving or freezing user funds.