In a recent Twitter Spaces session, Miguel Morel, the CEO of Arkham, addressed the cryptocurrency community’s allegations concerning their newly introduced “Intel Exchange” system. Morel dismissed claims that the system operates as a “snitch-to-earn” or “dox-to-earn” mechanism and invited the community to join a discussion to clarify the platform’s intentions.
I’ll be joining the @MarioNawfal CryptoTownHall at 14:45 UTC to have an open discussion about Arkham and our new Intel-to-Earn ecosystem.
See you there!https://t.co/PEfHI8aLBw
— Miguel Morel | Arkham (@RealMiguelMorel) July 11, 2023
The Controversy Surrounding Arkham’s Intel Exchange
Arkham’s Intel Exchange was launched with the aim of incentivizing users to unveil the identities behind anonymous blockchain addresses. By doing so, the platform sought to “deanonymize the blockchain” and discourage fraudulent activities. However, the system faced immediate backlash and was labeled as a “snitch-to-earn” mechanism on Crypto Twitter, leading to widespread criticism.
Miguel Morel’s Response
Despite the controversy, Miguel Morel vehemently defended Arkham’s Intel Exchange during the Twitter Spaces session. He emphasized the platform’s goal of exposing scammers and hackers involved in crypto exploits rather than encouraging harmful practices. Morel explained that publicly available blockchains are not foolproof when it comes to safeguarding private information and that Arkham would exercise authority over the data shared on the platform.
Uncovering the Culprits
Morel clarified that Arkham’s primary objective is to uncover trading firms, market makers, exchanges, and large institutions that profit from having information about significant token positions. By providing this information, Arkham aims to create a more transparent and secure crypto ecosystem. However, concerns were raised about the potential for false accusations and the abuse of the system.
Ensuring Responsible Governance
During the discussion, a participant expressed concern about potential misuse of the system by “crypto detectives” and emphasized the importance of preventing false accusations. Morel acknowledged these concerns and assured the participants that Arkham would be subject to proper governance and scrutiny. He highlighted that every bounty and piece of information shared on the platform would undergo approval processes.
Addressing Data Management Concerns
TV host Ran Neuner raised concerns about how Arkham would manage the data collected through the Intel Exchange system. Morel acknowledged the importance of responsible data management and stressed that the company would handle the data with utmost care. He implied that Arkham would be subject to more scrutiny and regulations compared to platforms like Twitter or Facebook.
Miguel Morel’s response to the allegations surrounding Arkham’s Intel Exchange system aimed to clarify the platform’s intentions. He emphasized the company’s commitment to exposing scammers and hackers while assuring the community of responsible governance and data management. The Twitter Spaces discussion allowed for an open dialogue, helping to address concerns and misconceptions about Arkham’s innovative system.
1. Is Arkham’s Intel Exchange a “snitch-to-earn” system?
No, Arkham’s Intel Exchange is not a “snitch-to-earn” system. The platform aims to expose scammers and hackers in the crypto community by incentivizing users to unveil the identities behind anonymous blockchain addresses.
2. How will Arkham prevent false accusations on the platform?
Arkham is committed to preventing false accusations by implementing proper governance and approval processes. Every piece of information shared on the platform will undergo scrutiny to ensure accuracy and integrity.
3. What data management measures will Arkham adopt?
Arkham understands the importance of responsible data management. The company has pledged to handle the data collected through the Intel Exchange system with care and comply with regulations and scrutiny to safeguard user information.
4. Will Arkham be subject to regulations and scrutiny?
Yes, Arkham will be subject to regulations and scrutiny. Compared to platforms like Twitter or Facebook, Arkham’s Intel Exchange system will undergo more scrutiny and governance to ensure responsible usage.
5. How can I join the discussion about Arkham’s Intel Exchange system?
To join the discussion and learn more about Arkham’s Intel Exchange system, you can participate in the Twitter Spaces session hosted by Miguel Morel. Stay updated on their official Twitter account for announcements and details.