Arkham CEO Refutes Claims of ‘Snitch-to-Earn’ Program, Reiterates Aim to Identify Bad Actors

Arkham’s Intel Exchange: A Closer Look

This week, the crypto community has been debating the merits of the new “Intel Exchange” launched by Arkham, a blockchain intelligence platform. Some have claimed it is a “snitch-to-earn” or “dox-to-earn” system, but the startup’s CEO, Miguel Morel, has refuted these claims in a July 11 Twitter Space.

The Intel Exchange promises to “deanonymize the blockchain” by allowing users to earn ARKM tokens for revealing the identities behind anonymous blockchain addresses. It was launched on Binance Launchpad as a token sale.

The platform has been met with a great deal of opposition on Crypto Twitter, with many dubbing it a “snitch-to-earn” system. However, Miguel Morel has clarified the workings of the Intel Exchange and its goals.

Uncovering Scammers and Hackers Behind Crypto Exploits

Morel disagreed with the claims made against Arkham’s platform, asserting that it was designed to expose scammers and hackers who use crypto exploits. “Publicly available blockchains are probably the worst possible way of keeping one’s private information private,” he said. He went on to explain that Arkham would be implementing a series of restrictions and guidelines to retain control of the data.

The primary focus of the info exchange, according to Morel, is to uncover trading firms, market makers, exchanges, and large institutions, such as flow crypto, etc crypto, crypto aggregator, crypto sites, coin crypto, crypto flash, crypto..com, crypto india, crypto crash, and crypto today latest.

Crypto Aggregator Arkham Under Fire

He added that large hedge funds and trading entities are “making money off of information about who’s buying and selling large positions of a particular token”, raising concerns from TV host Ran Neuner.

Another participant in the Twitter Space pointed out that Arkham, a crypto aggregator, has a responsibility to prevent abuse and may facilitate false accusations by so-called “crypto detectives”, however Morel maintained it will be properly governed.

Neuner further noted his issue was not with the system, but with Arkham managing the data. This was further compounded when Arkham was accused of leaking user emails via its weblink referrals program which includes an easily decipherable string of characters in referral links that reveal the referring email address.