Initiating a bounty scheme for information related to certain crypto wallet addresses, Arkham Intel Exchange accepted the first submission yielding a bounty payment of 9519.2625 ARKM, equivalent to around $5,000. Two on-chain detectives provided “evidence of wallets” connected to Terraform Labs and its co-founder Do Kwon, with claims hinting some ambiguity in the public portrayal of Terra’s Luna Foundation Guard wallet.
Launched on July 10, Arkham has emerged as a platform focused on revealing the anonymity of the blockchain, though it’s been met with a mix of approval and scepticism. Some critics often describe it ominously as nothing more than a grandiose informant’s platform. However, the service has picked up pace by allowing community members to post bounties for information on their desired blockchain transactions. The obtained information undergoes a review process, and, if approved, gets released for the public domain 90 days after approval. This period of latency implies we may see the complete intel on Kwon and Terra wallet addresses sometime late October.
At this point it’s essential to take a step back and consider the ethical implications surrounding this seemingly virtuous approach. On one hand, such levels of transparency can aid in eradicating the possibilities of fraudulence often associated with crypto transactions. However, this could also potentially lead to a violation of privacy rights if not executed properly.
Continuing with Terra’s journey, it made headlines during the 2022 crypto market crash when the algorithmic USTC stablecoin wavered from the US dollar. For almost a year, Kwon’s whereabouts were unknown until he was arrested and later sentenced for using forged travel documents. Additionally, Terra also has the critical gaze of South Korean authorities currently aimed its way, as it undergoes an investigation.
Thus, the journey of crypto is indeed a bittersweet fusion of highs and lows, of pioneering ventures and intense scrutiny. Much like the experiences of Terra and its founders, these trials and tribulations serve as an ongoing test of the security measures and ethical safeguards surrounding the crypto world.
Source: Cointelegraph
