{"id":37605,"date":"2023-07-19T06:09:24","date_gmt":"2023-07-19T10:09:24","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/bounty-of-670-placed-on-information-about-elon-musks-crypto-wallet-heres-the-latest\/"},"modified":"2023-07-19T06:09:25","modified_gmt":"2023-07-19T10:09:25","slug":"bounty-of-670-placed-on-information-about-elon-musks-crypto-wallet-heres-the-latest","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=37605","title":{"rendered":"Bounty of $670 Placed on Information about Elon Musk’s Crypto Wallet \u2013 Here’s the Latest"},"content":{"rendered":"
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Someone has placed a $670 bounty on obtaining information about\u00a0Elon Musk<\/strong>‘s crypto wallet.\u00a0<\/p>\n

The bounty was introduced on\u00a0Arkham<\/strong>\u2019s newly-launched \u201cIntel Exchange\u201d platform, which allows users to submit bounties in return for information about blockchain transactions.<\/p>\n

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The platform, which went live on Monday, aims to engage crypto sleuths in investigating and identifying individuals or entities involved in major crypto thefts.<\/p>\n

Arkham has already posted bounties for some major unsolved crypto heists, including the\u00a0$160 million hack of trading firm Wintermute\u00a0and the nearly $200 million\u00a0exploit of Nomad\u2019s token bridge.<\/p>\n

The platform\u2019s most prominent bounty is currently a reward of 100,000 Arkham (ARKM) tokens, equivalent to approximately $70,000, on the $415 million stolen from FTX shortly after the company filed for bankruptcy.<\/p>\n

Arkham\u00a0unveiled the Arkham Intel Exchange\u00a0last week, which it called the world\u2019s first on-chain \u201cintelligence marketplace.\u201d<\/p>\n

The marketplace is intended to meet the growing demand for on-chain analysis and create a decentralized intel-to-earn economy, allowing on-chain investigators to earn in exchange for their research.<\/p>\n

Arkham’s Intel Marketplace Sparks Privacy Concerns<\/h2>\n

The launch of Arkham’s intelligence marketplace has sparked privacy and safety concerns in the crypto community.<\/p>\n

Some argue that paying to identify and expose crypto users goes against the culture of anonymity that the space values.\u00a0<\/p>\n

There are also concerns about the potential for incentivizing violence and corruption through this platform.<\/p>\n

“I’m not a fan of the Arkham update,” Twitter user WickdNFT said.\u00a0<\/p>\n

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“What’s to stop bad actors from launching projects only to collect alt wallets and sell that information What’s to stop random employees from x exchange to do the same if bounty is high enough?”<\/p>\n<\/blockquote>\n

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As reported, the\u00a0platform also faced backlash\u00a0after it was revealed that the company had leaked its own customers\u2019 private information.<\/p>\n

The issue stems from Arkham\u2019s weblink referral program, where users can invite others onto the platform by sharing their unique referral URL.<\/p>\n

While these URLs appear to be a random sequence of characters, they are actually an easily decodable version of the user\u2019s email address written in Base64.<\/p>\n

This means that anyone who has shared their Arkham link may have unintentionally put their anonymity or, at the very least, their email address at risk.<\/p>\n

However, Arkham CEO Miguel Morel has defended the project, stating that the bar for verifying information will be set high.\u00a0<\/p>\n

The company’s website specifies that all information submitted for bounties must be publicly available and cannot include sensitive personal information such as addresses or financial details.<\/p>\n

Despite the controversy, Arkham has managed to raise over $10 million in funding rounds, valuing the company at $150 million.\u00a0<\/p>\n

Notable investors include venture capital investor Tim Draper, Bedrock Capital, Wintermute Trading, GSR Markets, and the co-founders of Palantir and OpenAI.<\/p>\n<\/p><\/div>\n