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Arkham Intel Exchange Awards Bounty for Do Kwon Wallet Evidence

2 mins
Updated by Kyle Baird
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In Brief

  • Arkham Intelligence Exchange awards its first bounty to ErgoBTC for evidence related to Terra co-founder's wallet.
  • Bounties identifying public addresses of Elon Musk, MicroStrategy, and FTX exploit have been posted on Arkham.
  • Arkham faces backlash over privacy concerns, including alleged data leaks to the U.S. government.
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Arkham Intel Exchange has awarded a bounty for submitting evidence of a wallet associated with Do Kwon and Terraform Labs. The platform awarded 9,519 ARKM to the bounty hunters.

“On-chain intelligence exchange” Arkham has awarded a bounty for evidence related to the wallet of Terra co-founder Do Kwon. The awardees were an anonymous on-chain sleuth and crypto community member ErgoBTC.

Arkham Awards Bounty for Do Kwon’s Wallet

ErgoBTC said that expanded labels for the LFG BTC address activity, “after running off with funds intended for defense of the UST depeg,” had been added to the intelligence exchange.

The image of the submission shows that the payout amounted to 9,519 ARKM, which amounts to about $5,000 at the current price.

Do Kwon Bounty Approval. Source: Twitter/Arkham Intel Exchange
Do Kwon Bounty Approval. Source: Twitter/Arkham Intel Exchange

This is the first bounty that has been approved on the Arkham platform. It could be the start of a new trend. The platform enables the poster of the bounty to retain the information for 90 days before disclosing it to the Arkham community.

So far, there have been multiple submissions on the Arkham platform since its launch on July 10. Among the highlights are active bounties posted by TRON DAO. There has also been a submission that identifies an address of MicroStrategy, which has over 10,000 BTC.

Perhaps most notably, there has been a bounty that identifies the public address of Elon Musk. Most bounties range from 1,000 to 5,000 ARKM. The two largest bounties are worth 100,000 ARKM and 50,000 ARKM. The largest one is one that asks for the identification of the address linked to the FTX exploit.

Arkham Faces Criticism Over Privacy

Not all is pleasant with Arkham’s efforts to establish an intel exchange. The project faced flak from the crypto community on Twitter, as users who shared links to a waitlist had their email addresses exposed on Twitter.

This occurred because of how the references were encoded.

Additionally, there has been a backlash over an alleged leaking of private user data to the United States government.

Arkham Intel Exchange denied that it was doing so, issuing a statement on the matter earlier in the month.

The crypto community has jokingly referred to Arkham as a “snitching-as-a-service.” CEO Miguel Morel has also defended Arkham, saying that complete anonymity is not a primary feature of blockchain.

Top crypto platforms | February 2024



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Rahul Nambiampurath
Rahul Nambiampurath's cryptocurrency journey first began in 2014 when he stumbled upon Satoshi's Bitcoin whitepaper. With a bachelor's degree in Commerce and an MBA in Finance from Sikkim Manipal University, he was among the few that first recognized the sheer untapped potential of decentralized technologies. Since then, he has helped DeFi platforms like Balancer and Sidus Heroes — a web3 metaverse — as well as CEXs like Bitso (Mexico's biggest) and Overbit to reach new heights with his...