Arkham CEO rebuts claims of ‘snitch-to-earn’ program, says it's to find bad actors

The main of the startup blockchain quality level Arkham has refuted claims by the crypto assemblage that its caller “Intel Exchange” is simply a “snitch-to-earn” oregon “dox-to-earn” system.

On a July 11 Twitter Space, Arkham CEO Miguel Morel discussed the nationalist relations debacle that has unfolded this week implicit its marketplace.

Arkham’s Intel Exchange aimed to “deanonymize the blockchain” by rewarding users with a caller token, ARKM, for revealing the identities down different anonymous blockchain addresses. It was launched connected Binance Launchpad arsenic a token merchantability this week.

The level rapidly generated a batch of criticism connected Crypto Twitter and was dubbed a “snitch-to-earn” system.

Morel disagreed with these claims and justified the level saying it was designed to uncover scammers and hackers down crypto exploits.

“Publicly disposable blockchains are astir apt the worst imaginable mode of keeping one's backstage accusation private,” helium said earlier adding that Arkham would clasp power of the data:

“It's not a wholly escaped market. So it's not similar anybody tin conscionable station immoderate portion of accusation and past it tin spell online.”

“There are a clump of restrictions and guidelines, each of which we volition beryllium rolling out,” helium added.

— Miguel Morel | Arkham (@RealMiguelMorel) July 11, 2023

Morel stated that the superior absorption of its info speech is uncovering trading firms, marketplace makers, exchanges and precise ample institutions.

He added these ample hedge funds and trading entities are “making wealth disconnected of accusation astir who's buying and selling ample positions of a peculiar token.”

Related: Crypto hacks and exploits snatch implicit $300M successful Q2 2023

Another subordinate successful the Twitter Space pointed retired that Arkham has a work to forestall maltreatment and whitethorn facilitate mendacious accusations by alleged “crypto detectives,” nevertheless Morel maintained it volition beryllium decently governed.

“Thankfully, it'll really beryllium much vetted and much regulated than thing similar Twitter oregon Facebook due to the fact that each bounty needs to beryllium approved.”

This raised adjacent much concerns from TV big Ran Neuner who said, “my contented is not with the system. My contented is with your institution managing the data.”

Arkham came nether occurrence this week for leaking idiosyncratic emails via its weblink referrals programme which includes an easy decipherable drawstring of characters successful referral links that uncover the referring email address.

Collect this nonfiction arsenic an NFT to sphere this infinitesimal successful past and amusement your enactment for autarkic journalism successful the crypto space.

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