Crypto · updated 1h ago · 2 min read
Aztec Labs Relaunches zk.money Privacy Wallet On Ethereum With DAI Stablecoin Deposits
Aztec Labs relaunches zk.money as self-custodial privacy wallet on the Aztec Network. Deposits remain publicly visible on Ethereum, while internal transfers are private.
Whether legal risk or ENS utility is foregrounded.
7 of 8 outlets skipped it: aztec Network split: Aztec Labs vs Aztec Foundation responsibilities.
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Gadget Review
“What nobody has settled yet is whether the software making them possible is protected infrastructure or an unlicensed financial service.”Read the original ↗
TradingView
“The relaunch gives ENS names a concrete function inside a private payments flow, since every tag like name.zk.money is a registered name used for receiving funds.”Read the original ↗
Gadget Review leads with legality and compliance uncertainty, while TradingView leads with ENS utility and potential token implications.
zk.money returns to Aztec
Aztec Labs relaunched zk.money, a self-custodial wallet on the Aztec Network, after a three-year absence, aiming to conceal payment amounts and recipients once funds move inside Aztec. Joe Andrews, CEO of Aztec Labs, said, "Onchain transactions between two individuals shouldn't mean publishing your financial history to the world," as the wallet uses readable names or links like bob.zk.money instead of long wallet addresses. Aztec Labs said users can deposit DAI, USDC or USDT from Ethereum, while USDC and USDT are converted to DAI on the way in so DAI is the only currency used inside zk.money.
Aztec Labs also said the wallet is self-custodial, so its operators cannot spend or freeze the funds held in it, even as Ethereum deposits remain visible before privacy begins. The relaunch comes with an early Alpha cap that requires each deposit, payment and withdrawal to stay below $2,500, and it also screens Ethereum addresses used for deposits and withdrawals against a sanctions policy.
What stays public
Aztec Labs said zk.money does not hide the initial Ethereum deposit, because a deposit from Ethereum reveals the sender and amount even though the recipient on Aztec can remain private. CoinMarketCap described the boundary as privacy starting after assets move onto the Aztec Network, where subsequent transactions can conceal balances, amounts, and counterparties. Aztec Labs said users can request payments by sharing a link or sending funds to readable names such as alice.zk.money, and it said the tags use Ethereum Name Service infrastructure.
Aztec Labs said the wallet runs with a sealed server co-signing operations inside zk.money, while documentation says the sealed server cannot spend a user's funds on its own. Aztec Labs also set a system-wide daily deposit allowance of $50,000 that replenishes over time, and it priced a deposit at 35 cents plus Ethereum fees and a withdrawal at 20 cents.
Limits, audits, and security
Aztec Labs said zk.money is operating in an early Alpha phase and that its documentation warns the software has not been fully audited, with critical bugs possible. CoinDesk reported that contributors disclosed a critical flaw in its V5 proof system in August and said a fix was planned for V6, while the zk.money release does not specify what safeguards apply after that finding. Aztec Labs said it plans to launch zk.money before the flaw is fixed, and it said a separate system called Oxide will check payments for errors caused by bugs in the network's software.
Aztec Labs said users get 100 sponsored transactions a day inside zk.money, but payments must wait if the contract covering network fees runs out of funds or cannot cover the prevailing fee. CoinDesk also said the original zk.money launched in 2021 and closed in 2024, and Aztec Labs said it served more than 75,000 wallets and processed over $100 million before the shutdown.