#Arkham CEO, Miguel Morel, has responded to the claims circulating in the crypto community regarding the company’s “ #Intel Exchange” program.

He refutes the notion that it is a “snitch-to-earn” or “dox-to-earn” system and instead emphasizes its purpose in identifying bad actors within the blockchain ecosystem.

Unveiling the Arkham Intel #Exchange: Deanonymizing the Blockchain

Arkham’s Intel Exchange, launched as a token sale on Binance Launchpad, aims to bring transparency to the blockchain by rewarding users who reveal the true identities behind anonymous blockchain addresses.

The platform garnered criticism on Crypto Twitter, with many labeling it a “snitch-to-earn” system.

Arkham CEO’s Response: Privacy Challenges in Public Blockchains

During a Twitter Space session, CEO Miguel Morel addressed the public relations controversy surrounding Arkham’s Intel Exchange.

He acknowledged the challenges of maintaining privacy on public blockchains, asserting that they are not the ideal platforms for keeping personal information private.

Defending the Purpose: Exposing Scammers and Hackers

Morel defended the Arkham #IntelExchange , stating that its primary objective is to uncover scammers and hackers involved in crypto exploits.

He emphasized the need to protect the crypto community from malicious actors and clarified that Arkham will retain control over the data shared on the platform.

Ensuring Responsible Information Sharing

Contrary to the perception of a completely free market, Morel emphasized that the Intel Exchange will be subject to restrictions and guidelines set by Arkham.

The platform will carefully regulate the information shared to prevent abuse and false accusations.

Targeting Trading Firms and Large #Institutions

Morel highlighted that Arkham’s focus is primarily on uncovering trading firms, market makers, exchanges, and large institutions that benefit from inside information on significant token transactions.

By doing so, the platform aims to promote fairness and transparency in the crypto market.

Addressing Concerns of Abuse and False Accusations

While concerns were raised about potential abuse and false accusations facilitated by “crypto detectives,” Morel assured that Arkham’s bounty system will undergo rigorous vetting and approval processes.

He emphasized that the platform will be more regulated than social media platforms like Twitter or Facebook.

Data Management and User Privacy

TV host Ran Neuner raised concerns about Arkham’s management of user data, expressing reservations about potential privacy breaches.

Morel acknowledged the importance of responsible data management and reassured users that Arkham will take necessary measures to protect their information.

Recent Email Leak Incident and Referral Program

Arkham faced criticism recently for leaking user emails through its Weblink referral program.

The inclusion of easily decipherable characters in referral links revealed users’ email addresses, raising concerns about data security and privacy practices.

Enhancing Security and Regulating Information: Arkham’s Approach to the Intel Exchange

Arkham CEO Miguel Morel further elaborated on the company’s commitment to ensuring security and responsible information sharing through the Intel Exchange.

He emphasized that Arkham will implement strict guidelines and regulations to govern the platform effectively.

Unlike social media platforms, every bounty shared on the Intel Exchange will require approval, preventing the dissemination of false or misleading information.

Successful Launch: #Arkham Intel Exchange Emerges as a Game-Changing Marketplace

Since its highly anticipated launch on July 10, Arkham, the revolutionary “blockchain intelligence company,” has garnered significant attention and already received 11 submissions of valuable information from diverse addresses through its groundbreaking platform, the “Arkham #IntelExchange .”

This remarkable response from users across the crypto community is a strong indication of a promising and stable beginning for this trailblazing bounty marketplace, where individuals can anonymously buy and sell blockchain information.

Diverse and Active Bounties on Arkham Intel Exchange

As of the current moment, the marketplace boasts 32 active bounties, presenting a plethora of opportunities for participants.

Impressively, 7 of these bounties were posted by Tron DAO, while the remaining bounties were contributed by Arkham Admin.

Notably, over 72% of the bounties available are valued at 1,000 ARKM, with the lowest bounty set at 750 $ARKM .

One intriguing example involves the hunt for an address owned by AU21 Capital, a well-known blockchain-focused venture capital firm.

The range of bounties on the platform is diverse, covering various tasks and challenges.

For instance, participants can seek out the public address of none other than Tesla’s CEO, #Elonmusk , with a rewarding bounty of 1,000 ARKM.

Furthermore, there are bounties dedicated to identifying addresses associated with Bitwise, a renowned crypto asset manager overseeing assets worth over $1 billion.

Additionally, the platform seeks information about the entities responsible for exploits like the infamous Nomad Bridge Exploit and the CREAM Finance Exploit.

Two of the most substantial bounties on the platform are sure to pique the interest of seasoned bounty hunters.

The first bounty offers an enticing reward of 100,000 ARKM for identifying the addresses that played a role in the downfall of FTX.

The second, valued at 50,000 ARKM, call for information on the individual or group responsible for the notorious hack of Wintermute, which resulted in the theft of $160 million in September 2022.

Similarly, there’s another 50,000 ARKM bounty for unveiling an address with a 10,000 BTC volume owned by Grayscale, a digital asset manager linked to the Grayscale Bitcoin Trust, which has already received a submission.

Arkham’s Launch Controversy: Ethical Concerns and Market Resilience

In the wake of its launch, Arkham found itself embroiled in a mixture of reactions from the crypto community, primarily due to its mission to “deanonymize the blockchain.”

Some concerns arose regarding its perceived role as a centralized intelligence agency, sparking controversy and raising questions about potential misuse and data privacy and security.

Addressing these concerns, Arkham CEO Miguel Morel took to a Twitter Space session to defend the platform, asserting that a lack of privacy is inherent in many blockchains today.

The platform’s approach enables users to post and accept bounties for blockchain information while maintaining anonymity.

Once a bounty is successfully completed, the entity offering the reward gains exclusive access to the data for a period of 90 days.

After this initial exclusivity period, Arkham plans to make the data publicly available.

Despite the ongoing controversy, the market performance of Arkham remains robust.

With the current token price standing at $0.5512 and a trading volume of $28,691,764 in the last 24 hours, the platform continues to attract investors’ attention.

However, the market capitalization has seen a decline of 7.41%, settling at $82,724,049.

Investors and stakeholders are closely monitoring how Arkham addresses data privacy and security concerns, as these factors could significantly impact the token’s future performance and position within the crypto landscape.

As Arkham continues to navigate through its early stages, the industry eagerly awaits how this innovative platform will shape the future of blockchain intelligence and information exchange.

Read more: https://perseuscrypto.com/blockchain/arkham-intel-exchange-a-steady-start-with-11-submissions-including-elon-musks-wallet/