Vitalik Buterin praised the Altcoin Platform, the Price Soared Up Sharply! - Coin Bulletin

Ethereum founder Vitalik Buterin's praise for Railgun, a privacy-focused platform that prevented the zkLend attacker from laundering $9.5 million in stolen funds, brought a price increase

Vitalik Buterin stated in his sharing that Railgun has successfully demonstrated effective performance in preventing illegal income using the privacy pool mechanism. Railgun prevents suspicious transactions by using zk-proof technology and specially created privacy pools, thus offering a structure compatible with on-chain privacy.

The struggle of Railgun against crime has attracted attention

Unlike traditional blockchain mixers, Railgun uses the "Private Proofs of Innocence" (Private Proofs of Innocence) system. This system prevents the entry of cryptocurrencies from illegal sources into privacy pools by checking the history of funds. During the attempt to transfer funds by the zkLend attacker to Railgun, this security mechanism was activated, and the transaction was blocked.

The attacker stole 3,600 ETH using the “**rounding error” he identified in the zkLend protocol on 12 February. After moving the stolen funds to the Ethereum mainnet, he tried to transfer them to Railgun but failed. The zkLend team offered the attacker a 10% “white hat” reward in exchange for returning 90% of the funds, but the attacker has not responded yet.

Blockchain security experts point out that the cost of an attacker moving funds would destroy a large portion of their profits. Vitalik Buterin's praise for Railgun set an important example for the future of security solutions compatible with privacy.

According to CoinGecko data, after Vitalik Buterin's sharing, RAIL rose from $0.714 to $0.903 with a 26% increase. Later, the price pulled back and is currently trading at $0.781.