Ethereum privacy wallet zk.money returns after three years

zk.money relaunch brings a new privacy option to Ethereum

Ethereum users have another way to make private payments. Aztec Labs is bringing back zk.money, a wallet that hides payment details on the Aztec Network, after a three-year pause.

The wallet lets people deposit dollar-pegged stablecoins from Ethereum, then send payments without showing balances, amounts, or recipients on the public blockchain.

Key facts about the relaunched wallet

• zk.money is self-custodial, meaning users keep control of their funds. Aztec Labs says its operators cannot spend or freeze the money.
• Users can deposit the dollar-pegged stablecoins DAI, USDC, or USDT from Ethereum. USDC and USDT are converted into DAI, which becomes the only currency used inside zk.money.
• Deposits from Ethereum remain publicly traceable. Only activity inside the Aztec Network is hidden.
• The early Alpha release limits each deposit, payment, and withdrawal to below $2,500, screens addresses under a sanctions policy, and has not been fully audited.

What Aztec Labs says

Joe Andrews, CEO of Aztec Labs, said in a statement: "Onchain transactions between two individuals shouldn't mean publishing your financial history to the world."

Andrews said Aztec Labs chose DAI because it considers it "the most decentralized of the mass-market stablecoins used today on Ethereum." He added that the wallet could support other assets later.

How zk.money works

On Ethereum, anyone who knows a wallet address can see its balance and trace past transfers. This can expose a business's payments to suppliers or an individual's spending history.

zk.money moves payments onto the Aztec Network, which is connected to Ethereum but hides balances, amounts, and the people involved in transfers. People can request a payment by sharing a link or send money to a readable name such as bob.zk.money, instead of copying a long wallet address.

Limits and risks of the Alpha release

Aztec Labs describes the current version as an early Alpha release. It caps deposits, payments, and withdrawals below $2,500, screens addresses under a sanctions policy, and carries security risks because the software has not been fully audited.

Why privacy on Ethereum matters

The relaunch gives Ethereum users another option for private transfers. Ethereum already has apps that hide payments, though transfers from an ordinary wallet remain public. Developers are weighing changes for the planned 2027 Hegotá upgrade that could let privacy apps handle transaction approvals and fees with less help from outside services, but those proposals are still under consideration.

Sources

• CoinDesk