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- ZKSNACKS has announced it is shutting down its Coinjoin coordination service from June 1, 2024.
- The company cited regulatory uncertainty as the main reason for its decision.
- Wasabi Wallet will continue functioning as a regular Bitcoin wallet.
ZKSNACKS, the company pioneering the development of the Wasabi wallet, has announced it is shutting down its Coinjoin coordination service from June 1, 2024. In a recent report, the company cited regulatory uncertainty as the main reason for discontinuing the privacy-focused service.
After years of relentless dedication to improve Bitcoin’s privacy, zkSNACKs, the company pioneering the development of Wasabi Wallet, is shutting down its coinjoin coordination service, effective from June 1st, 2024. Coinjoin is a major currency mixing protocol after Tornado.…— Wu Blockchain (@WuBlockchain) May 3, 2024
Posting on the Wasabi wallet blog, zkSNACKs highlighted that it decided to shut down the Coinjoin service following thoughtful considerations. However, the company noted that it will continue functioning as a regular Bitcoin wallet where users can generate private keys to receive and send Bitcoins.
Meanwhile, the firm highlighted Wasabi Wallet’s inherent privacy capabilities based on a filtering architecture on its client side, Tor integration, and custom coin selection functionalities. However, zkSNACKs highlighted the Bitcoin blockchain’s nature that prevents users from obtaining complete privacy without Coinjoins.
Furthermore, zkSNACKs noted that discontinuing its Coinjoin services would affect users of wallet clients that connect to the zkSNACKs coordinator, including Trezor Suite and BTCPayServer.
Wasabi Wallet is a pioneer privacy solution on the Bitcoin network that launched in 2018 as a free open-source software, and zkSNACKs noted it would maintain the protocol despite discontinuing Coinjoin. As an open-source solution, users can contribute, open new issues, submit pull requests, or even fork the Wasabi Wallet.
The decision to discontinue the Coinjoin privacy solution comes amid ongoing litigation between the U.S. Department of Justice (DOJ) and the foremost cryptocurrency privacy solution, Tornado Cash. In a recent twist of events, the DOJ filed an opposition to Tornado Cash’s co-founder’s motion asking the court to dismiss the money laundering, sanctions violations, and other charges labeled against him.
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