Nocturne Labs, a privacy protocol backed by Ethereum co-founder Vitalik Buterin, has delivered some unfortunate news. The company has announced its decision to gradually wind down its operations, urging users to withdraw their funds before the end of the month.
Despite Buterin’s investments in various altcoin and cryptocurrency projects, Nocturne Labs has faced difficulties leading to its closure. The platform, based in the USA, aimed to provide anonymous trading options within the Ethereum ecosystem, allowing users to deposit and withdraw funds securely.
In a statement, Nocturne Labs expressed regret over the closure of the privacy protocol established earlier last year. The company reassured users that withdrawals would remain accessible through their website until the end of the month.
Back in October 2023, Nocturne Labs had secured $6 million in a seed funding round, with investments from Vitalik Buterin, Bain Capital Crypto, and Polychain Capital. This development marks a significant setback in the journey of Nocturne Labs, as it prepares to conclude its operations.
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