Mysterious BTC Fund Donates $75 Million To Preserve Privacy

Meet the Unknown Fund – a mysterious BTC fund which has donated more than $75 million to groups and companies working on privacy preserving technologies. The crypto news show that this anonymous fund is promoting itself and first stepped out of the surface in mid-November.

As we can see, the origins of the funds are largely unknown and the beneficiaries of the donations are also quiet now. The secrecy, on the other hand, has created a lot of skepticism amongst observers.

We saw that the decentralized hackivist group Anonymous recently detailed the Unknown Fund on November 13 in a press release, where it claimed that the $75 million in Bitcoin (BTC) would go towards groups or companies working on privacy-enhancing technologies.

Other than this involvement and the motive and value of the fund, there is little that is known about the origins of the Unknown Fund. The release only calls them “ordinary, anonymous people from different countries” as the update on 4chan said.

Thanks to the shadowy nature of just about every aspect of the mysterious BTC fund, some people have questioned its authenticity. A Twitter post surfaced and showed the following.

So.. this "Unknown Fund" that plegded $75m to Bitcoin privacy projects has turned out to be a hoax? Has anyone applied and heard back from them?

— Hasu (@hasufl) December 6, 2019

Ever since mid-November, the Unknown Fund’s Twitter account started posting press releases from various privacy-friendly projects. This makes no comment as to whether the groups who received the publicity are beneficiaries of the Unknown Fund.

The mysterious BTC fund even has a Twitter profile where it recently posted the following.

All projects are funded.

— Unknown Fund (@fund_unknown) December 11, 2019

Of course, they did not elaborate on which projects they backed, how much Bitcoin (BTC) each has received or other which would go viral in the Bitcoin news. No one knows if their “funding” is actually a donation or an investment – both words are used in the original press release.

The group behind this mysterious BTC fund has also not posted anything regarding the transactions, something that one other anonymous BTC fund named Pineapple Fund recently made sure to do.

https://twitter.com/MikeE_NZ/status/1204777752131452930

That said, this mysterious BTC fund differs from the Pineapple Fund mainly in the way that the latter saw $55 million donated to medical research, environmental conservation and human rights concerns – all donated in BTC.

The Unknown Fund has not disclosed anything about their donation motives.