Arkham CEO Rebuts Claims of ‘Dox-to-earn’ Program, Believes It is to Find Bad Actors

Arkham Intelligence CEO Miguel Morel believes that public blockchains are the worst means of keeping an individual's personal information private.

In a July 11 Twitter post, the CEO discussed the public relations failure that has occurred this week in its marketplace. The executive has denied claims that its new Intel Exchange" is a dox-to-earn" or snitch-to-earn." system.

Morel claims that the main aim of the information exchange is to reveal bad-acting exchanges, big institutions, and market makers.

Arkam CEO Announces the Intel Exchange

The Intel Exchange is created to deanonymize the network" by rewarding network participants with a new coin, ARKM. The coin will reveal the identities behind hidden blockchain addresses. It was deployed on Binance Launchpad as a coin sale this week.

Arkham explained in its announcement post that the new system will provide many positive use cases for using blockchain sleuths as info brokers.But this announcement was met with many varying views.

This Raises More Attention in the Crypto Industry

Intel Exchange's innovative entrant quickly generated tons of negative feedback on Crypto Twitter and was nicknamed a snitch-to-earn" platform.

However, Morel refuted the claims and explained that the platform was created to reveal fraudsters and hackers behind crypto attacks.

In his notion, Morel said that blockchains are one of the worst ways of concealing one's private information. Thus, introducing Arkham would enable the crypto community to maintain control of data.He added that there are a lot of guidelines and restrictions which the firm will roll out.

Morel explained that big hedge funds and trading companies are capitalizing on the information of their traders trading large positions of a specific coin.

Also commenting on the situation was another participant of the Twitter Space with Morel and the others, who stated that it was Arkham's responsibility to prevent abuse.

The participant also said the new platform might facilitate fake accusations by purported crypto detectives," though Morel stated that the platform would be effectively governed.

This event raised increasing worries among crypto pundits like TV host Ran Neuner, who complained that his issue wasn't with the new platform, but with Arkham managing the data.

This week had been rough for Arkham, as it was being heavily criticized for leaking customer emails using its Weblink referrals program.

The referral links contained an easily decipherable sequence of characters that displayed the referring email address.Hudson Jameson, a crypto enthusiast, also commented on his dislike for the recent development by Arkham Investments.

James expressed, on Twitter, that the Intel Exchange might be helpful as a decentralized whistleblowing dApp for public benefit. But, the submissions return to Arkham, whereas Arkham Fnd is the primary arbiter.

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