Privacy Matters, 37

gm, readers.

At Automata we work on protecting privacy and fairness. And in this newsletter, we find more reasons to talk about it. Explore headlines and catch up on the biggest crypto news in Web3 privacy.

This week:

  • Worldcoin open sources core components of the Orb’s software

  • Munchables suffered a $62 million hack which was subsequently recovered

  • Near launches Chain Signatures to sign transactions on supported blockchains

Zooming into ZK:

  • zkSync marks the first anniversary of its mainnet launch

  • Polygon zkEVM resumes operations after experiencing issues with its sequencer

  • Celestia proposes incorporating SNARK accounts into the base layer

  • Succint Labs, a startup dedicated to democratizing zero-knowledge proofs, announces a $55 million fundraising round

We dive into the details, so you don’t have to:

Munchables, a gaming platform on the Blast Layer 2, recently announced the recovery of $62 million in Ethereum (ETH) to a multisig wallet following a significant loss attributed to unauthorized transactions. The breach was facilitated by smart contract permissions that allowed a developer to freely transfer funds, which were exploited. Subsequently, Munchables reported that the developer had returned the private keys to the wallet containing the platform's assets.

Near’s Chain Signatures facilitates cross-blockchain transactions by allowing NEAR accounts and smart contracts to sign transactions for multiple blockchains, including Bitcoin, Ethereum, Cosmos chains, DogeCoin, and XRP Ledger, with plans to extend support to Solana, TON Network, Polkadot, and more. This feature leverages a decentralized Multi-Party Computation (MPC) network, bolstered by NEAR staking and Eigenlayer ETH restakers, to ensure secure transactions across different blockchains without imposing additional management burdens on users.

A proposal was raised to integrate SNARK accounts into Celestia's base layer to enhance interoperability between Celestia and various rollups, focusing on improving transaction interoperability and security. By incorporating SNARK accounts, users can seamlessly deposit and withdraw TIA between Celestia and rollups, ensuring a secure and efficient transaction process.

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This newsletter is for informational purposes only. It is not intended to be a substitute for professional financial advice or interpreted as investment advice. Cryptocurrencies are volatile assets and you should always do your own research before making any informed decisions when investing or trading.

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