Aztec Labs relaunches zk.money privacy wallet on Ethereum Layer 2

Aztec Labs has relaunched its self-custodial zk.money wallet for private crypto payments on Aztec Network, an Ethereum Layer 2. The original wallet launched in 2021. Aztec Labs discontinued it in 2023 to focus on building Aztec Network. Aztec said the original wallet reached more than 75,000 unique wallets. Aztec said it processed over $100 million in volume. CEO Joe Andrews said demand was not the reason for the shutdown. Andrews said the earlier system was difficult to expand and could not scale globally. Aztec Network is now overseen by the nonprofit Aztec Foundation. Aztec Labs develops products on the network. Aztec said the new wallet does not publish users' balances, payment amounts or counterparties on a public ledger. Users can claim handles that work with apps supporting Ethereum Name Service. Users can choose who can interact with their handles. Users can send or request payments through links. Users can send funds from Ethereum-based exchanges directly to a zk.money handle. Aztec plans to connect the wallet with Ethereum DeFi protocols. Aztec said partner integrations are expected in Q4, but it declined to name the potential partners. Aztec Labs said it cannot spend, move or freeze users' funds. Users can access the wallet through the web or run it locally. Aztec plans a mobile app for Q4 but has not set a launch date. Two older Aztec smart contracts were exploited in June. Aztec said those contracts belonged to discontinued products, not the current Aztec Network. Aztec said the new wallet was not affected.