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Arkham Intel Exchange celebrates a milestone as two good blockchain sleuths efficiently declare the first-ever bounty reward for uncovering essential proof associated to Do Kwon’s elusive crypto wallets.
In an thrilling revelation, the platform announced on Twitter its acceptance of a submission from these two exceptional “on-chain sleuths,” awarding them a bounty fee of 9,519.2625 Arkham (ARKM), valued at roughly $5,000.
Since its launch on July 10, Arkham Intel Exchange has not been with out its critics inside the crypto neighborhood. Some skeptics have labeled the platform as a glorified “snitching service.” Nevertheless, Arkham’s idea has empowered customers to put up bounties in search of helpful details about blockchain transactions.
The Arkham Intel Exchange now has its first authorized submission: new proof of wallets owned by Do Kwon / Terraform Labs.
An nameless on-chain sleuth and @ErgoBTC had been the profitable bounty hunters. The new labels can be found for all to trace right here: https://t.co/GT9dCGU5q6 pic.twitter.com/0QruCFQ4OS
— Arkham (@ArkhamIntel) July 24, 2023
Arkham Bounty Hunters Raise Questions About Terra’s Wallet Holdings
An nameless person, alongside Ergo, a self-described “glorified accountant” related to OXT Research, has come ahead with potential evidence of wallets owned by Kwon and Terra.
This info raises questions relating to Terra’s public statements on their pockets holdings, particularly the Luna Foundation Guard pockets, which was reported to carry 313 Bitcoin (BTC) in reserve.
Expanded labels for the LFG BTC handle exercise after working off with funds supposed for protection of the UST depeg have been added to Arkham as part of their bounty program.
Details and extra colour on the attribution are supplied under. https://t.co/RzEqz4jj01
— 🏴∴glorified accountant∴🏴 (@ErgoBTC) July 24, 2023
In a big trade occasion, Terraform Labs confronted a devastating collapse of its stablecoin, TerraUSD, and cryptocurrency, Luna, in May 2022. This incident marked probably the most substantial collapses ever witnessed within the crypto world.
South Korean Authorities Investigate Terra-Connected Individuals
In the wake of the catastrophic collapse of TerraUSD and Luna, the U.S. Securities and Exchange Commission wasted no time taking motion towards Kwon. The SEC charged him with a sequence of securities violations, together with the alleged sale of unregistered crypto asset securities transactions.
Additionally, Kwon was accused of offering incomplete and misleading disclosures and disseminating deceptive info to traders, additional exacerbating the affect of the collapse.
Kwon’s whereabouts remained largely unknown from May 2022 to March 2023. During this era of uncertainty, authorities in Montenegro apprehended him for utilizing cast journey paperwork. Subsequently, Kwon confronted a sentence of 4 months in jail for his actions.
Bitcoin nearing the $28K stage drop on the each day chart: TradingView.com
In a parallel investigation, authorities in South Korea have turned their consideration to people linked to Terra, in search of solutions relating to the trade’s actions. Among these beneath scrutiny is co-founder Daniel Shin. He confronted his first listening to in July on expenses associated to supposedly gaining illicit earnings from promoting LUNA cash.
The emergence of latest proof surrounding Kwon and Terra’s wallet holdings provides additional intrigue to the unfolding occasions. As the crypto neighborhood intently watches this improvement, the case continues to be a vital level of debate within the trade.
Featured picture from ISHN.com
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