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Bain Capital Crypto, Polychain Lead $6M Funding Round For Privacy Protocol Firm Nocturne Labs
Other investors included Ethereum co-founder Vitalik Buterin, Bankless Ventures and HackVC.
Updated Oct 25, 2023, 6:12 p.m. Published Oct 25, 2023, 12:00 p.m.
Nocturne Labs, the company behind the privacy on-chain accounts protocol Nocturne, announced Wednesday it raised $6 million in a seed funding round co-led by Bain Capital Crypto and Polychain Capital.
The funding round drew participation from other prominent investors in the Ethereum ecosystem, including Ethereum co-founder Vitalik Buterin, Bankless Ventures, HackVC and Robot Ventures.
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The money will be used to continue the development of the blockchain but also pay legal bills, Luke Tchang, the co-founder and CEO of Nocturne Labs told CoinDesk in an interview.
The Nocturne protocol is expected to launch during the second half of November, combining blockchain technologies like zero-knowledge proofs, account abstractions and stealth addresses to bring private accounts to public blockchain.
According to a press release, the accounts “function like conventional Ethereum accounts, but with built-in asset privacy.”
Nocturne could compete with other privacy-focused protocols such as Aztec or Railgun, Tchang said.
“People have kind of been afraid of the space for regulatory reasons. We're kind of the belief that there's a way to do this the right way and being measured along the way and speaking with regulators,” Tchang told CoinDesk. “This is of course still possible. Having privacy is not an impossible thing to ask for.”
Read more: Bain Capital Crypto Backs $4.5M Round for Blockchain Interoperability Startup Orb Labs
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Microsoft Raises Alarm of Malware Targeting Coinbase, MetaMask Wallets
A new report from Microsoft researchers warned of malware that could steal and decrypt users’ information from 20 of some of the most popular cryptocurrency wallets.
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- Tech giant Microsoft shared a new report warning of malware that targets 20 of the most popular cryptocurrency wallets used with the Google Chrome extension.
- The malware, dubbed StilachiRAT, could deploy “sophisticated techniques to evade detection, persist in the target environment, and exfiltrate sensitive data."
- While the malware has not been distributed widely, Microsoft did share that it has not been able to identify what entity is behind the threat.
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