[11][12] In August 2021, MobileCoin raised $66 million in Series B funding from investors including Alameda Research, Coinbase Ventures, Gaingels, and Marc Benioff.
[4] In December 2021, Bob Lee (businessman), former CTO of Square (now Block), joined MobileCoin as Chief Product Officer, having been an early investor and advisor to the company.
[14] In July 2022, the company was announced that disinformation researcher and former CIA fellow Renée DiResta would be joining the board of the MobileCoin foundation.
[18] MobileCoin's mechanics build on Stellar (for consensus) and Monero (for privacy), using CryptoNote alongside zero-knowledge proofs to hide details of users' transactions.
Transaction inputs are shown to exist in the blockchain with Merkle proofs of membership and are signed with Schnorr-style multilayered linkable ring signature, and output amounts (communicated to recipients via ECDH) are concealed with Pedersen commitments and proven in a legitimate range with non-interactive zero-knowledge proofs.
The platform had to buy out the trader to protect itself, and survived thanks to a loan from sister company Alameda Research, resulting in a loss as great as $1 billion.