Key Highlights
- zk.money users will be able to make payments with readable usernames or payment links instead of long wallet addresses.
- Privacy begins only after funds enter the Aztec network; Ethereum deposits remain publicly traceable.
- The early Alpha will impose transaction and deposit limits, while Aztec Labs warns that the software may contain critical vulnerabilities.
zk.money to Introduce Private Payments With Usernames and Links
Users of zk.money will be able to send payments using readable usernames or payment links rather than long cryptocurrency wallet addresses. The system is designed to provide privacy for activity conducted within the Aztec network, but the initial transfer from Ethereum into zk.money will not be fully private.
The Ethereum address used for a deposit and the amount deposited will remain traceable on the public blockchain. Privacy protections will apply only after the assets enter the Aztec network, meaning users’ on-chain activity before that point can still be observed.
Alpha Limits, Fees and Transaction Sponsorship
During the early Alpha phase, all deposits, payments and withdrawals will be capped at less than $2,500. Aztec Labs said the common daily deposit limit for all users will be $50,000. The company plans to increase these limits as the system matures and confidence in the network grows.
Deposits will carry a 35-cent fee in addition to the applicable Ethereum network fee, while withdrawals will cost 20 cents. Users will also receive 100 sponsored transactions per day on the network. Ethereum addresses used for deposits and withdrawals will be screened against sanctions lists.
Aztec Warns of Technical Risks
Aztec’s documentation states that the software has not yet undergone a complete review and could contain critical vulnerabilities. A critical defect was identified in the network’s V5 proof-of-work system in August, and Aztec said a fix would be included in version V6.
The planned launch of zk.money before that fix is available creates a technical risk for early users. The warning is particularly relevant during the Alpha period, when the platform will operate with restricted transaction limits and unfinished software.
Previous zk.money Platform Activity
An earlier version of zk.money served more than 75,000 wallets and processed over $100 million in transactions before it was shut down. The new system is intended to provide private activity within the Aztec network, while retaining public visibility for the initial Ethereum deposit and applicable compliance checks.
Why This Matters
zk.money’s model highlights the trade-off between blockchain privacy and transparency at the point where assets enter or leave a network. Users may gain privacy for activity within Aztec, but their initial Ethereum deposits remain linked to publicly visible addresses and amounts. The Alpha limits, fees, sanctions screening and software warnings also show that the service is launching as an early-stage system rather than a fully mature payment network.
The planned V6 fix for the V5 proof-of-work vulnerability will be an important technical milestone. Aztec Labs also expects to raise the platform’s limits as the network develops and trust increases.
Frequently Asked Questions
Will zk.money deposits from Ethereum be completely private?
No. The Ethereum address and deposit amount will remain traceable on the public blockchain. Privacy applies only after the asset enters the Aztec network.
What are the zk.money Alpha limits and fees?
Deposits, payments and withdrawals will remain below $2,500 during the early Alpha. The common daily deposit limit will be $50,000. Deposits will cost 35 cents plus the Ethereum network fee, and withdrawals will cost 20 cents.
Is zk.money fully audited and secure?
Aztec documentation warns that the software has not been fully reviewed and may contain critical vulnerabilities. A flaw identified in the V5 proof-of-work system is expected to be fixed in version V6, but zk.money is scheduled to launch before that fix.
This is not investment advice.