The hacker group Anonymous announced the establishment of a $75 million Bitcoin fund to boost privacy technology and cryptocurrency development

Anonymous, a global decentralized hacker group, has just announced the formation of a Bitcoin fund. These $75 million bitcoins will be used to promote the development of privacy-enhancing technologies and cryptocurrencies.

In a press release released on Wednesday, Anonymous provided some vague details of the fund. The program, called the Unknown Fund, plans to donate $75 million in bitcoin to startups that support the concept of online anonymity. The organization said that projects that are favored by investment will be those that are dedicated to protecting personal data, anonymity enhancement tools and cryptocurrencies.

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Anonymous capital injection

Although there is usually no knowledge of the origins of the organization behind the fund, anonymous sources say it consists of “ordinary anonymous people from different countries”. According to reports, the organizers of the organization met on the 4chan English image board.

There are still no more details of attractiveness. For example, there is no indication of where the $75 million bitcoin actually came from, how many "organizers" there are, or how the $75 million bitcoin will be distributed.

However, anonymous people are more aware of the motivation behind the Unknown Fund. The organization described personal data protection as “one of the main challenges for modern people”, highlighting recent examples of using “super-target advertising” to change people’s political will.

Anonymous citing the UK's 2016 Brexit referendum and the latest US presidential elections, pointing out that in both cases personal data is used to provide information that may affect how they vote. Anonymous wrote:

“The use of data has become a powerful tool for operators. The efficiency of this tool is both amazing and frightening.”

Bitcoin and privacy priority

However, the benefits will not only take advantage of important political issues to take advantage of the personal data that has been collected. Anonymous believes that many companies use this data to enrich their knowledge, not only to use social media, but also to increase their broad dependence on social media.

Anonymous also specifically mentioned the cryptocurrency:

“Unknown Fund has also seen a rare opportunity to protect the rights and freedoms of people who are empowered by technologies such as blockchain and cryptocurrencies. This is an opportunity for mankind to create a new environment, a new honest monetary system, and a better world.”

In addition to the fund itself, Anonymous hints at new strategies to further support those who support the development of enhanced privacy technologies other than Bitcoin. However, it claims that these methods will be announced later.

It is worth noting that not long ago, the head of the US Federal Bureau of Investigation (FBI) announced that cryptocurrencies are more threatening to financial institutions than ever before.