The blockchain intelligence company Arkham’s on-chain intelligence marketplace, Arkham Intel Exchange, is the first-of-its-kind platform to trade blockchain intelligence, but the crypto community has slammed the platform by calling it a dox-to-earn program.
On Monday, July 10, Arkham announced the launch of Arkham Intel Exchange, an on-chain intelligence marketplace where people can anonymously buy and sell intel on any crypto wallet address.
Announcing The World’s First On-Chain Intelligence Exchange
Buy and sell information on the owner of any blockchain wallet address—anonymously, via smart contract. pic.twitter.com/4xr7dLvOjp
— Arkham (@ArkhamIntel) July 10, 2023
Monetizing Blockchain Slueths’ Skills with Arkham Intel Exchange
According to the developer, the Arkham Intel Exchange is built to address the two key trends in the blockchain analysis space. The first is to fulfill the growing demand for on-chain analysis from traders, investors, journalists, and researchers. The second is to monetize the skills of blockchain sleuths who “lack a means by which they can be compensated for their skills, despite possessing unique and useful expertise.”
The , Arkham Intel Exchange works on a bounty-style mechanism where anyone can post a bounty by locking funds to request information on crypto addresses or entities. Bounty hunters can then fulfill these intel requests in exchange for payment.
The intelligence traded will be subject to an exclusive 90-day access period, during which only bounty-poster can access the data. After that period, the intelligence gathered will be available to wider Arkham’s community.
Arkahm hypothesizes some great use cases of its marketplace, but the crypto Twitter quickly pointed out the dangers. Arkahm said that it had no strict limitations on the types of bounties that can be posted on the platform, and the acquirable information span to wallet contents and detailed assessments of the performance of the addresses’ investments.
Adding more this, a crypto Twitter user, Poordart, coined the term dox-to-earn for the marketplace and mockingly said that more features would include the physical address of the wallet owner, his family background, Kids’ school location, social security number, phone number, and email.
Other features we're adding to our dox-to-earn program soon:
– Wallet owner physical address
– Telephone number, email
– Social security number
– Family background, children's kindergarten location and many other identifying information!
All in a single app! https://t.co/9IgptuNpRv pic.twitter.com/Fbg6S8QJBV
— poordart (@poordart) July 10, 2023
Mark Zeller, founder of an Aave DAO service provider Aave-Chan, called it a “massive net negative” idea. He wrote:
”Buy and sell information on the owner of any blockchain wallet address. Doxxing is not cool, and I’m massively disappointed with y’all selling the ecosystem ethos for a shitcoin. Massive net negative.”
"Buy and sell information on the owner of any blockchain wallet address"
Doxxing is not cool, and I'm massively disappointed with y'all selling the ecosystem ethos for a shitcoin.
Massive net negative.
— Marc Zeller 👻 💜 🦇🔊 (@lemiscate) July 10, 2023
However, some pointed out that the marketplace may serve as a deterrence for riggers and scammers.
Arkham’s native token ARKM will be used to transact on the platform, which is currently in the initial exchange offering (IEO) sale phase on Binance Launchpad. The total ARKM supply is capped at 1 billion, 50,000 (5%) of which have been allocated to Binance Launchpad. Early users of the Intel Exchange will also enjoy a mid-summer airdrop.
Announcing The Arkham Airdrop: a distribution of rewards to our early users!
Users can now convert their points exclusively on the Arkham Invite Dashboard.
Beware of scammers: Only trust info from @arkhamintel verified on Twitter, only claim via Arkham, and double check URLs. pic.twitter.com/E6HT9idCyl
— Arkham (@ArkhamIntel) July 10, 2023
Users can earn points by referring others through a referral link. These referral links have also been alleged to expose the email of the person sharing the link. Reacting to the situation, Miguel Morel, CEO of Arkham, explained that the sign-up page was designed to reveal the email of the person who shared the link to show the invited user that the invite was legitimate.
On Ref Links
Because of our upcoming launch, we’ve had millions of people engage with our platform and hundreds of thousands sign up. Understandably, there’s been a lot of attention on our project, the majority of it positive, along with some legitimate criticisms of how we’ve… pic.twitter.com/0VZFchBg7h
— Miguel Morel | Arkham (@RealMiguelMorel) July 10, 2023
