Arkham CEO, Miguel Morel, has responded to the claims circulating in the crypto community regarding the company’s “Intel Exchange” program.
He refutes the notion that it is a “snitch-to-earn” or “dox-to-earn” system and instead emphasizes its purpose in identifying bad actors within the blockchain ecosystem.
Unveiling the Arkham Intel Exchange: Deanonymizing the Blockchain
Arkham’s Intel Exchange, launched as a token sale on Binance Launchpad, aims to bring transparency to the blockchain by rewarding users who reveal the true identities behind anonymous blockchain addresses.
The platform garnered criticism on Crypto Twitter, with many labeling it a “snitch-to-earn” system.
Arkham CEO’s Response: Privacy Challenges in Public Blockchains
During a Twitter Space session, CEO Miguel Morel addressed the public relations controversy surrounding Arkham’s Intel Exchange.
He acknowledged the challenges of maintaining privacy on public blockchains, asserting that they are not the ideal platforms for keeping personal information private.
I'll be joining the @MarioNawfal CryptoTownHall at 14:45 UTC to have an open discussion about Arkham and our new Intel-to-Earn ecosystem.
See you there!https://t.co/PEfHI8aLBw
— Miguel Morel | Arkham (@RealMiguelMorel) July 11, 2023
Defending the Purpose: Exposing Scammers and Hackers
Morel defended the Arkham Intel Exchange, stating that its primary objective is to uncover scammers and hackers involved in crypto exploits.
He emphasized the need to protect the crypto community from malicious actors and clarified that Arkham will retain control over the data shared on the platform.
Ensuring Responsible Information Sharing
Contrary to the perception of a completely free market, Morel emphasized that the Intel Exchange will be subject to restrictions and guidelines set by Arkham.
The platform will carefully regulate the information shared to prevent abuse and false accusations.
Targeting Trading Firms and Large Institutions
Morel highlighted that Arkham’s focus is primarily on uncovering trading firms, market makers, exchanges, and large institutions that benefit from inside information on significant token transactions.
By doing so, the platform aims to promote fairness and transparency in the crypto market.
Addressing Concerns of Abuse and False Accusations
While concerns were raised about potential abuse and false accusations facilitated by “crypto detectives,” Morel assured that Arkham’s bounty system will undergo rigorous vetting and approval processes.
He emphasized that the platform will be more regulated than social media platforms like Twitter or Facebook.
Data Management and User Privacy
TV host Ran Neuner raised concerns about Arkham’s management of user data, expressing reservations about potential privacy breaches.
Morel acknowledged the importance of responsible data management and reassured users that Arkham will take necessary measures to protect their information.
Recent Email Leak Incident and Referral Program
Arkham faced criticism recently for leaking user emails through its Weblink referral program.
The inclusion of easily decipherable characters in referral links revealed users’ email addresses, raising concerns about data security and privacy practices.
Enhancing Security and Regulating Information: Arkham’s Approach to the Intel Exchange
Arkham CEO Miguel Morel further elaborated on the company’s commitment to ensuring security and responsible information sharing through the Intel Exchange.
He emphasized that Arkham will implement strict guidelines and regulations to govern the platform effectively.
Unlike social media platforms, every bounty shared on the Intel Exchange will require approval, preventing the dissemination of false or misleading information.
The Importance of Deanonymizing the Blockchain for Market Integrity
The concept of deanonymizing the blockchain plays a crucial role in maintaining market integrity.
By revealing the true identities behind anonymous blockchain addresses, Arkham aims to foster trust and deter fraudulent activities within the crypto space.
The platform’s focus on trading firms, market makers, and large institutions aligns with its mission to create a fair and transparent trading environment.
Privacy Challenges in Public Blockchains: A Call for Innovative Solutions
Miguel Morel acknowledged the inherent privacy challenges associated with public blockchains.
While blockchain technology ensures transparency and immutability, it poses concerns regarding the protection of personal information.
Morel emphasized the need for innovative solutions to address these challenges and highlighted Arkham’s commitment to striking a balance between transparency and privacy.
Mitigating Risks and Building Trust: Arkham’s Data Management Practices
Data management is a critical aspect of Arkham’s operations, and the company recognizes its responsibility to safeguard user information.
The recent email leak incident was an unfortunate oversight, and Arkham has taken immediate steps to rectify the situation.
Morel assured users that stringent measures are being implemented to prevent similar incidents in the future, ensuring the highest standards of data security and privacy.
Empowering Users: Providing Transparency and Control
While some users expressed concerns about Arkham’s management of user data, Morel emphasized the company’s commitment to empowering users with transparency and control over their information.
Arkham will implement robust user privacy settings, enabling individuals to choose what information they want to share and with whom.
Collaboration with Regulatory Authorities: Navigating a Complex Landscape
As the cryptocurrency industry faces increasing regulatory scrutiny, Arkham recognizes the importance of collaborating with regulatory authorities.
The company is actively engaging with regulators to ensure compliance with evolving guidelines and regulations.
By doing so, Arkham aims to foster trust and legitimacy within the crypto market.
Education and Awareness: Promoting Responsible Data Practices
Arkham understands the significance of educating users and industry participants about responsible data practices.
The company plans to launch educational initiatives and awareness campaigns to empower individuals with knowledge about data privacy, security, and the importance of responsible information sharing in the crypto ecosystem.
Continuous Improvement and Accountability: Arkham’s Commitment
Arkham acknowledges that building trust and maintaining a high level of accountability is an ongoing process.
The company remains committed to continuous improvement in its data management practices, addressing any vulnerabilities promptly, and prioritizing user privacy and security at every step.
Conclusion: Arkham’s Journey Towards Transparency and Security
In conclusion, Arkham CEO Miguel Morel’s response clarifies the purpose of the Intel Exchange and refutes the notion of a “snitch-to-earn” system.
The company’s focus on deanonymizing the blockchain aims to enhance transparency, security, and trust within the crypto market.
Despite recent challenges, Arkham is dedicated to implementing stringent regulations, empowering users with privacy control, and fostering collaboration with regulatory authorities.
By doing so, Arkham strives to create a more transparent, secure, and responsible ecosystem for all participants in the crypto space.
The platform’s goal is to identify scammers and hackers, enhancing transparency and security in the crypto ecosystem.
While concerns exist regarding data management and privacy, Arkham emphasizes responsible information sharing and strict oversight of the bounty system to prevent abuse.