Layer-2 solution project Ethereum Aztec posted a notice to permanently close the Connect security bridge due to regulatory pressures on the “mix transaction” feature.
On March 13, the Aztec Network – a layer-2 solution for Ethereum that evolved towards zk-rollups focused on transaction privacy – announced that it would be decommissioning an important piece of the puzzle. Its infrastructure is the Aztect Connect security bridge.
The project notes that after one week from the date of the announcement, deposits from Aztec Connect products such as zk.money and zkpay.finance to smart contracts will be disabled. However, users can still continue to withdraw funds within one year, the deadline is March 21, 2024.
Aztec Team announced to close the privacy infrastructure Aztec Connect. One week from today, deposits into the Aztec Connect contract both from zk money and other front-ends like zkpay finance will be disabled. Possibly due to regulatory pressures that privacy protocols may face.… https://t.co/Z8eAeqez9x
— Wu Blockchain (@WuBlockchain) March 13, 2023
The news comes after the US government and other countries are ordering to “lock down” privacy-promoting protocols, typically Tornado Cash. The Aztec Network itself was also affected in the past FTX (before bankruptcy) pointed and froze a transaction that interacts with zk.money. The exchange believes that zk.money is a “money mixing” tool and has a high risk of risk.
About Aztec Network, the project was founded in 2017 and officially on mainnet Aztec Connect secure bridge last July. Aztec Network has completed many rounds of funding, most notably The latest Series B funding round with a total value of USD 100 million led by a16z. The total amount raised by Aztec is 119.1 million USD.
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