Aztec Labs has reintroduced zk.money, a self-custodial wallet on the Aztec Network, enhancing privacy for Ethereum users by concealing transaction details.

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Key Takeaways

zk.money allows private payments on the Aztec Network, hiding transaction details.
Deposits from Ethereum remain visible, but subsequent transactions are private.
The wallet supports DAI, with USDC and USDT converted to DAI upon deposit.
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zk.money Relaunches for Enhanced Privacy

Aztec Labs has relaunched zk.money, a self-custodial wallet designed to enhance privacy for Ethereum users. The wallet operates on the Aztec Network, which conceals payment amounts, balances, and recipient details while allowing users to send money using readable names or links, according to CoinDesk.

The wallet supports deposits of the stablecoins DAI, USDC, and USDT from Ethereum. However, USDC and USDT are converted to DAI upon deposit, making DAI the sole currency used within zk.money. Despite the privacy features, deposits from Ethereum remain publicly traceable, though subsequent transactions on the Aztec Network are private.

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Operational Limits and Security Concerns

The early Alpha release of zk.money imposes limits on transactions, with each deposit, payment, and withdrawal capped below $2,500. Additionally, all users share a $50,000 daily deposit allowance, which replenishes over time. These limits are described as safeguards due to the system's new and experimental nature, as reported by CoinDesk.

Aztec Labs acknowledges security risks, noting that the software has not been fully audited and critical bugs are possible. A critical flaw in the V5 proof system was disclosed in August, with a fix planned for V6. Despite these concerns, the wallet is launching before the flaw is fixed, with a separate system called Oxide checking payments for errors caused by bugs.

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Privacy and Future Developments

The relaunch of zk.money comes as Ethereum developers consider changes for the planned 2027 Hegotá upgrade, which could enhance privacy app functionalities. Aztec Labs' CEO, Joe Andrews, emphasized the importance of privacy, stating that on-chain transactions should not expose financial histories to the public.

The original zk.money, which launched in 2021 and closed in 2024, served over 75,000 wallets and processed more than $100 million. The current version aims to build on this foundation, with plans to support additional assets in the future, as stated by Andrews.

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Sources

[CoinDesk](https://www.coindesk.com/tech/2026/09/29/embargo-12-et-ethereum-users-get-another-way-to-pay-privately-as-zk-money-returns-after-three-years)