Arkham Intelligence was at the center of a scandal because of a controversial product
Date: 2023-07-11 Author: Karina Ziganova Categories: IN WORLD
Analytics platform Arkham Intelligence has announced the launch of "the world's first on-chain data exchange" that will allow you to anonymously buy and sell information about any crypto wallet.
The company claims that the new product was created out of a desire to make life easier for crypto traders, investors, journalists, researchers, and others who need comprehensive, clear, and accurate on-chain data, but do not have the "time and skills to conduct blockchain analysis."
"We believe that deanonymization is the fate of the cryptocurrency market, and that the intelligent technology created by Arkham will serve as the basis for self-regulation of the crypto economy," the company said.
However, members of the crypto community did not appreciate the efforts of Arkham and attacked the project with criticism, citing a violation of privacy. Some have expressed concern about the platform's lack of decentralization.
Arkham risks losing the trust of users
Twitter users have also found that absolutely anyone can get the full email address of Arkham customers by inserting the referral data into a Base64 decoder.
The company's CEO, Miguel Morel, chimed in on the discussion, stating that Arkham developed the links in this way back in beta.
"Referral links are not a way to collect users' email addresses – they give us addresses when they register on the platform and receive a referral link. We don't use them for anything other than communicating with users and tracking referrals. In the future, all referral links will contain an encrypted version of the email so that it cannot be reprogrammed," he wrote.
Meanwhile, members of the crypto community noted that Arkham knew about the problem back in January, but never took any action to fix it.
Binance will hold an ARKM token sale, despite the dissatisfaction of the community
Crypto enthusiasts also called on Binance to pay attention to the situation with Arkham. Yesterday, Changpeng Zhao's exchange announced that the native token of the ARKM platform will be released on Binance Launchpad with a total supply of 50 million coins, or 5% of the issue.
The token sale will last from July 11 to July 17, each participant will be able to purchase tokens worth $15,000 (300,000 ARKM). 20% of the coin supply will go to the main investors, 17.5% will be sent to other investors, and another 17.2% to the fund's treasury.
According to Binance, Arkham raised $160 million in several rounds of funding, including Bedrock Capital, Wintermute Trading, GSR Markets, as well as co-founders of Palantir and OpenAI.
