Arkham Intel Exchange, a platform focused on "de-anonymizing the blockchain," has received its first submission of information regarding wallet address details related to Terraform Labs and its co-founder Do Kwon. According to a July 24 announcement, the platform accepts ed applications from two "on-chain detectives" and rewarded them with a bounty of 9,519.2625 Arkham (ARKM), equivalent to roughly $5,000 at the time of publication. An anonymous user and Ergo, a self-proclaimed "glorious accountant" working with OXT Research, provided the platform with "proof of wallets" owned by Kwon and Terra. This information may contradict Terra's public statement, which claims they hold only one Luna Foundation Guard wallet with 313 bitcoins in reserve.
Launched on July 10, Arkham Intel Exchange faced criticism from many in the cryptocurrency space, who considered it a mere whistleblowing service. The platform allows users to post bounties requesting blockchain transaction information, which becomes public 90 days after Arkham approves it. all information about Kwon and Terra wallet addresses may be made public by the end of October. Terra has been amidst controversy since the cryptocurrency market crash of 2022 when its algorithmic stablecoin, TerraClassicUSD (USTC), depegged from the US dollar . Moreover, Kwon's whereabouts were largely unknown from May 2022 until March 2023 when Montenegrin authorities arrested and sentenced him to four months in prison for using forged travel documents.
Individuals associated with South Korea's Terra are currently under scrutiny by local authorities investigating the exchange. In July, co-founder Shin Hyun-seong, also known as Daniel Shin, reportedly underwent his first hearing on charges of allegedly deriving illegal profits from the sale of LUNA tokens. The situation surrounding Terra and its co-founders has attracted significant attention and raised questions about the transparency and regulatory compliance of the project.
