Aztecs Network in a Twitter respond to recent reports, that FTX froze user accounts due to their interactions with Aztec, opposed the claim that “Aztec is a mixing service”.
Recently, FTX froze a user account who sent coins to @aztecnetwork 's zkmoney. According to FTX, Aztec Connect – Aztec network / zk money has been identified as a mixing service, which is a high-risk activity prohibited by FTX.
— Wu Blockchain (@WuBlockchain) August 19, 2022
Aztec Network, reiterated its core values ​​and affirmed that it is “not passive in stopping illegal activity.”
We are aware of reports that FTX is warning users not to interact with Aztec.
As a result, we want to underscore our current and ongoing risk-reduction framework:
1) Implement practical deterrents
2) Measure their effectivenessPrivacy is legitimate: pic.twitter.com/GfytZyOnoK
— Aztec (@aztecnetwork) August 19, 2022
our approach has always been one of practical deterrence:
Ensuring users have access to privacy on-chain while deterring money-laundering and illicit activity.
Tweeting that it was working on a series of improvements that would “virtually eliminate the ability of malicious parties to move stolen funds through Aztec.” These include changes to deposit limits, rate limits, pending deposit limits, and ‘escape hatch windows’.
The network declared,
“We have failed our mission when our network is being used to harm our users.”
The upgrade brings the following updates to your Aztec network:
– Slow down the speed of deposits and withdrawals
– Facilitates identification of risky addresses
– Prevent unauthorized users from circumventing Falafel, an open-source implementation of Aztec’s rollup
User security is a key privacy benefit.
If our network is used to harm users, we've failed our mission.
Consequently, we are working with partners to identify those using stolen funds and unmask them using publicly available information *outside* of the Aztec system.
— Aztec (@aztecnetwork) August 19, 2022
At a troubling time for blockchain-based privacy, Aztec ended its Twitter thread with a scathing message.
“If privacy is outlawed, only outlaws will have privacy.”
Unlike other web3 protocols that have had to shut down or comply with US sanctions, Aztec has taken a different approach. The network claims it “restricts behavior, not individuals.”
