Layer-two Ethereum remedy undertaking Aztec has issued a recognize to completely shut down the Connect safety bridge due to regulatory stress on the “mixed transaction” characteristic.
Aztec Network, a layer two remedy for Ethereum that has evolved into transaction privacy-targeted zk-rollups, announced on March 13 that it would disable an vital piece of the puzzle: its infrastructure is the Aztect Connect safety bridge.
The undertaking notes that soon after 1 week from the date of the announcement, deposits from Aztec Connect items this kind of as zk.cash and zkpay.finance to the intelligent contract will be disabled. However, consumers can proceed to withdraw money inside of 1 yr, the deadline is March 21, 2024.
Aztec Team announced the shutdown of the Aztec Connect privacy infrastructure. In a week from nowadays, deposits into the Aztec Connect contract from the two zk cash and other front-ends this kind of as zkpay finance will be disabled. Perhaps due to regulatory pressures that privacy protocols could encounter.… https://t.co/Z8eAeqez9x
— Wu Blockchain (@WuBlockchain) March 13, 2023
The information comes soon after the US government and other nations ordered a “lockdown” of protocols that market privacy, generally Tornado Cash. The Aztec Net itself has also been hit in the previous FTX (in advance of bankruptcy) staked and blocked a transaction interacting with zk.cash. The exchange believes that zk.cash is a “money mixing” device and has a higher chance chance.
About Aztec Network, the undertaking was founded in 2017 and officially on mainnet Aztec Connect safe bridge final July. Aztec Network has finished a lot of funding rounds, specially The hottest round of Series B funding with a complete worth of $a hundred million led by a16z. The complete volume raised by Aztec is $119.one million.
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