Arkham’s New Exchange Aims to Snitch on Crypto Wallet Holders

Arkham, a blockchain intelligence company, recently announced a launch of a so-called “world’s first on-chain intelligence exchange” and its native coin ARKM. The company is under scrutiny by Crypto Twitter, as the new exchange poses privacy concerns that clash with current values and principles of decentralization and could put network users at risk.
Following the Twitter announcement, the users proclaimed Arkham’s latest project a “dox to earn” exchange, while the company holds its ground by having high hopes for its questionable platform.

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Snitch to earn exchange

Illustration: Lenka T.

Arkham’s “Dox to Earn” Exchange

On July 10th, Arkham Intelligence announced on Twitter the launch of its intelligence exchange. The promotional video shared by Arkham reveals that the new platform will allow users to trade information about wallet holders.

Essentially, users can anonymously place a request on the platform about the name or address of any crypto wallet holder. In return, expert blockchain analysts will get compensation for providing such a service.

Blockchain privacy

Photo illustration: Freepik

Arkham’s mission is to use this new bounty mechanism to stop the spread of crypto attacks by encouraging experts to dabble in on-chain research. However, this bold move is under fire by Crypto Twitter, and for a good reason. Some privacy advocates even labeled the new exchange as a “snitch to earn” or “dox to earn” project, suggesting that the project launch poses privacy issues and that it allows users to target people within the community, especially crypto whales.

In addition, users paying for these services will have exclusive access to the discovered data for 90 days. Even worse, Arkham aims to release wallet holders’ info after the 90-day exclusivity period ends.

That’s not the end of the drama, though.

Users have also been accusing the company of leaking the emails of those who signed up for the waitlist. The referral links contain encoded email addresses, and some users claim that this move was intentional.

Meanwhile, Arkham is having a blast as its token is planned to be issued on Binance Launchpad. Surprisingly, 50 million tokens, or 5% of the total supply, will be open for sale, which starts on July 11th and closes on July 17th.

Jelena is a content writer dedicated to learning about all things crypto. Her hobbies are playing chess, drawing, baking, and going on long walks. During winter, she usually spends her leisure time reading books.