Arkham Responds To Accusations Of Government Affiliation, User Privacy Concerns

Key Points:

• Blockchain company Arkham Intel denies government ties amid backlash over Intel Exchange platform.
• Concerns were raised about privacy and data misuse with the trading of crypto wallet information.
• The company refutes data leakage allegations and launches ARKM tokens through ICO on Binance Launchpad.

In a recent statement released on July 11, blockchain intelligence company Arkham Intel addressed mounting criticisms and accusations regarding its alleged ties to US government agencies.

The company has been facing intense backlash following the launch of its Intel Exchange, an on-chain intelligence exchange that enables users to trade information related to crypto wallets through smart contracts.

Upon the announcement of Intel Exchange, the platform faced swift condemnation from the crypto community, with many dubbing it a “snitching-as-a-service” program. Concerns were raised regarding the potential misuse of user data and privacy implications associated with such an offering. In addition, skeptics speculated that Arkham Intel might have undisclosed connections to prominent US government entities like the CIA or FBI.

Seeking to clarify its position, Arkham Intel vehemently denied any association with government agencies in its Tuesday post. The company firmly stated that it is not a covert government project and emphasized that it operates independently as a crypto-native team committed to the well-being of both its community and the broader industry.

Moreover, Arkham Intel countered claims made on Monday, suggesting that it had been leaking and selling confidential customer data. These allegations arose in response to the introduction of the platform’s weblink referral program. Users utilizing Arkham’s wallet tracking dashboard were able to invite others to join the platform by sharing unique referral URLs. Initially appearing as seemingly random characters, closer inspection revealed that these URLs contained Base64-encoded versions of users’ email addresses.

Arkham Intel refuted the notion that private information was being compromised or sold, categorically denying any intentional leakage or unauthorized use of customer data. The company clarified that the characters at the end of the referral URLs hold no meaningful information and cannot be used to expose users’ personal details.

As Coincu reported, simultaneously with the launch of Intel Exchange, Arkham Intel also announced the initiation of its native token, ARKM, through Binance Launchpad. The company scheduled an initial coin offering (ICO) for ARKM from July 11 to July 18. Priced at $0.05 per token, Arkham Intel aimed to raise $2,500,000 through the ICO. According to data provided by ICO Drops, a total of 1,000,000,000 ARKM tokens were offered for sale during this period.

The company also said on July 8 that the ARKM airdrop had been snapshotted, and Sybil attackers and other users trying to manipulate the system had been identified as ineligible for the airdrop.

As of now, Arkham Intel’s response has shed light on its disassociation from government agencies and addressed concerns regarding user privacy. Nevertheless, the company continues to navigate the repercussions of the backlash and strives to regain the trust and confidence of its users and the wider crypto community.

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