News source DB claimed that a U.S. government address was active based on that alert.
Amidst recent allegations, Arkham Intelligence, a market intelligence platform, has publicly denied sending inaccurate messages to a specific group of users on April 26th.
Arkham denies any error
Arkham denied that it made any such error, writing:
âWe have conducted an investigation of the DB Alert situation, and determined that the Arkham alerts were sent accurately in this case.â
According to Arkham Intelligence, a market intelligence platform, it suggested that DB, also known as tier10k, set up two alerts on Bitcoin transactions worth more than $10,000, and named them "Mt Gox" and "US Gov." However, DB inferred that certain Bitcoin addresses were transacting based on labels he had set himself. He then publicly tweeted that addresses related to the U.S. government and Mt. Gox were transacting crypto.
After it became clear that no such transactions had taken place, DB claimed that Arkham had made an error. He stated that the platform had confirmed that a "bug fix deployed today caused alerts to be sent erroneously to [a] small subset of users."
DB seemingly confirmed this with Arkham, and Arkham appeared to admit partial error in an earlier tweet. However, in its latest message, Arkham denied all wrongdoing and said that the alerts were correctly sent to DB, and that "no one received inaccurate alerts."
The triggering event for the alert may have been non-standard on-chain activity. Some commentators have speculated that Ordinals inscriptions on the relevant addresses made those addresses appear to be engaged in a transaction without actually moving funds, thus causing the alert in question.
Alert was sent later than 6% market crash
The incident occurred at around the same time as a significant drop in the value of Bitcoin, which fell 6% from $29,472 to $27,696 in just one hour.
The exact timing of the alert was initially uncertain because it was private. However, Arkham Intelligence has since revealed that the alert was sent a few minutes after the market crash had ended and could not have impacted the price of Bitcoin.
The cause of the price drop is still unknown. Moreover, BTC gained value immediately before and after the crash, and as of 12:30 a.m UTC, the asset's price has increased by 3.5% over a 24-hour period.
#BTC #bitcoin #ArkhamIntelligence #alert #cryptonews
Source: cryptoslate
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