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Arkham Intel issued a statement on July 11, denying accusations that it is linked to US government agencies. The platform has been facing a lot of criticism recently after launching an exchange for on-chain information about crypto wallets. Additionally, users noticed that Arkham’s reflinks could be used to reveal the private email addresses of its users.
Arkham Says it Hasn’t Been Leaking User Data
Blockchain intelligence firm Arkham Intel denied allegations that it is associated with the US government after facing intense backlash amid privacy concerns over its newly-launched exchange.
On July 10, Arkham announced the rollout of Intel Exchange, “the world’s first on-chain intelligence exchange” that empowers users to anonymously buy and sell information tied to any crypto wallet through smart contracts.
The move immediately led to sharp criticism against the new solution, with the crypto community labeling it as a “snitching-as-a-service” program. While Arkham made efforts to outline Intel Exchange’s positive use cases in the announcement thread, most users on crypto Twitter voiced their concerns about possible misuse of the launched product. In addition, some critics even said that Arkham is likely connected to US government agencies such as the CIA and the FBI.
Arkham fiercely denied such allegations in its Tuesday post, claiming that it “is not secretly a government project.” It added: “We are not affiliated with government agencies. We’re a crypto-native team and we care about our community and industry.”
Moreover, Arkham also opposed the Monday claims that it has been leaking and selling its customers’ private data. These allegations emerged after Arkham introduced its weblink referral program. Those using the platform’s wallet tracking dashboard can invite others onto the platform by sharing their unique referral URLs, which allegedly end with meaningless characters. However, on a closer look, they appear to be an easy-to-decipher version of the user’s email address written in Base64 format.
Arkham Launches ARKM Token ICO on Binance Launchpad
Alongside the exchange rollout, Arkham also announced the launch of its native token, ARKM, through Binance Launchpad. The project initiated an initial coin offering (ICO) for ARKM, which will occur from July 11 to July 18.
The token is priced at $0.05, with a fundraising goal of $2,500,000. Arkham is offering 1,000,000,000 ARKM tokens for sale through the offering, according to data by ICO Drops.
However, a maximum of 50 million tokens will be distributed through Binance’s launchpad, with a per-user limit of 300,000. This means that a maximum of 5% of the total supply will be distributed at this stage.