Monday, February 26, 2024

Arkham Intel Exchange approves $5K bounty for info on Do Kwon and Terra wallets

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A platform geared toward “deanonymizing the blockchain” has accepted its first submission regarding data on pockets addresses linked to Terraform Labs and its co-founder, Do Kwon.

In a July 24 announcement, Arkham Intel Alternate said it had accepted a submission from two “on-chain sleuths,” leading to a bounty fee of 9,519.2625 Arkham (ARKM) — roughly $5,000 on the time of publication. An nameless consumer and Ergo, a self-described “glorified accountant” working with OXT Analysis, despatched the platform “proof of wallets” owned by Kwon and Terra. Ergo stated this data might contradict public statements from Terra on holding just one Luna Basis Guard pockets, wherein a reported 313 Bitcoin (BTC) stays in reserve. 

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Launched on July 10, Arkham has incurred negative reactions from many within the crypto house, who describe the platform as little greater than a glorified snitching service. The agency permits customers to submit bounties requesting data on blockchain transactions, which will probably be launched to the general public 90 days following approval at Arkham. This means all data on the Kwon and Terra pockets addresses could develop into out there in late October.

Associated: Terraform Labs seeks access to FTX wallets in fraud defense

Terra was on the forefront of controversy within the 2022 crypto market crash when the platform’s algorithmic stablecoin, TerraClassicUSD (USTC), depegged from the US greenback. Kwon’s whereabouts have been largely unknown from Might 2022 till March 2023, when authorities in Montenegro arrested and later sentenced him to four months in jail for utilizing solid journey paperwork.

People linked to Terra in South Korea are additionally at the moment underneath scrutiny from native authorities investigating the change. In July, co-founder Shin Hyun-seong — often known as Daniel Shin — reportedly had his first hearing for costs associated to allegedly illicit income from the sale of LUNA tokens.

Journal: ‘Terra hit us incredibly hard’: Sunny Aggarwal of Osmosis Labs