A platform aimed at “anonymizing the blockchain” has accepted its first submission regarding information on wallet addresses linked to Terraform Labs and its co-founder, Do Kwon.
In a July 24 announcement, the Arkham Intel Exchange Said It had accepted a submission from two “on-chain spies” that resulted in a bounty payment of 9,519.2625 Arkham (ARKM) – approximately $5,000 at the time of publication. Ergo, an anonymous user and self-described “proud accountant” working with OXT Research, sent the “proof of wallet” platform owned by Quon and Terra. Ergo said this information could contradict Terra’s public statements on holding only one Luna Foundation guarded wallet, which reportedly holds 313 bitcoin (BTC) in reserve.
Extended labels for LFG BTC address activity have been added to Arkham as a part of their bounty program following a lack of funds to protect UST Depag.
Details on attribution and additional color are provided below. https://t.co/RzEqz4jj01
– ∴Proud Accountant∴ (@ErgoBTC) 24 July 2023
Launched on July 10, Arkham has received a negative response from many in the crypto sphere, who describe the platform as nothing more than a glorified snitching service. The company allows users to post bounties requesting information on blockchain transactions, which will be released to the public 90 days after approval on Arkham. This suggests that all information on Kwon and Terra wallet addresses may be available as late as October.
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Terra was at the forefront of controversy in the 2022 crypto market crash, when the platform’s algorithmic stablecoin, TerraClassicUSD (USTC), was devalued to the United States Dollar. Kwon’s whereabouts were largely unknown from May 2022 until March 2023, when authorities in Montenegro arrested him for using forged travel documents and subsequently sentenced him to four months in prison.
Individuals associated with Terra in South Korea are also currently under investigation by local authorities investigating the exchange. In July, co-founder Shin Hyun-seong — also known as Daniel Shin — reportedly had his first hearing for charges related to allegedly profiting from the sale of LUNA tokens.
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