The CEO of Arkham Miguel Morel asserts that the ability to identify those who are behind blockchain transactions could have prevented the loss of billions of dollars in cryptocurrencies. Morel aims to argue against the negative reputation that the crypto industry has garnered in recent years and highlights the value such identification could bring during crises or frauds.
Controversial “Dox-to-Earn” Program
Arkham faced backlash from the crypto community when it unveiled a “dox-to-earn” program that involved trading users’ onchain information. Doxing is when distinguishing details about individuals online without their consent are revealed . Morel explains that Arkham focuses on analyzing publicly available information and connecting people to specific portfolios which distances the company from unauthorized doxing practices.
Introducing a Unique Platform
Arkham has unveiled a new platform for buying and selling blockchain information and tracking cryptocurrency addresses. The platform is unique in the market. It allows users to announce bounties for information or onchain analysis and provides incentives for detectives and researchers to sell their investigative work. The company’s native token ARKM will be launched on Binance Launchpad for BNB owners and interest from whales in accumulating the crypto asset has already been observed.
Mixed Reactions and Skepticism
While some panelists found reassurance in Morel’s explanations others expressed doubt. One of the renowned crypto traders Scott Melker raised concerns about the potential for false stories being created against individuals and the risks of incentivizing people to attack each other . Ran Neuner also known as @cryptomanran expressed his skepticism based on the company’s past costly mistakes and false alarms.
Despite the criticism Morel remains committed to reducing fraud and hacks and emphasizes that Arkham’s target market is larger investors . He acknowledges the concerns raised and vows to address and relieve them as he recognizes the responsibility he holds.