{"id":121121,"date":"2023-07-12T01:10:55","date_gmt":"2023-07-12T01:10:55","guid":{"rendered":"https:\/\/dripp.zone\/news\/arkham-ceo-defends-dox-to-earn-program-says-identifying-bad-actors-is-the-whole-point-crypto-news\/"},"modified":"2023-07-12T01:10:56","modified_gmt":"2023-07-12T01:10:56","slug":"arkham-ceo-defends-dox-to-earn-program-says-identifying-bad-actors-is-the-whole-point-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/arkham-ceo-defends-dox-to-earn-program-says-identifying-bad-actors-is-the-whole-point-crypto-news\/","title":{"rendered":"Arkham CEO Defends ‘Dox-to-Earn’ Program, Says Identifying Bad Actors Is ‘The Whole Point’\n – Crypto News"},"content":{"rendered":"
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The ability to identify the entities behind blockchain transactions could have prevented the loss of billions of dollars in crypto, claims the CEO of Arkham, a controversial company dedicated to “deanonymizing the blockchain.”<\/p>\n

“This is exactly the kind of thing that would have been extremely valuable during every single crisis or scam,” he said. <\/span>Miguel Morel<\/span><\/a>Arkham’s Chief Executive Officer on a <\/span>Twitter Spaces<\/span><\/a> today, adding that his company could counter “every piece of negative information that has destroyed the reputation of the crypto industry over the past years.”<\/span><\/p>\n

His appearance was an attempt to address the crypto community’s <\/span>anger<\/span><\/a> after the company <\/span>revealed<\/span><\/a> an unsettling \u201cdox-to-earn\u201d program that involves trading users’ on-chain information. Doxxing is the act of revealing identifying details about individuals online against their wishes.<\/span><\/p>\n

\u201cArkham basically focuses on analyzing strictly publicly available information, to then make connections about what sort of entities own which particular wallets,\u201d he said.<\/span><\/p>\n

The Space’s conversation included crypto personalities like <\/span>mario nawfal<\/span><\/a>, <\/span>Scott Melker<\/span><\/a>and <\/span>Ran Neuner<\/span><\/a>, among others, and was intended to address privacy concerns and issues surrounding the incentives behind the platform.<\/span><\/p>\n

morel<\/span><\/a>who didn’t reply directly to the “dox-to-earn” label, said <\/span>Arkham Intelligence<\/span><\/a> will follow a strict vetting process for which data will be available on the platform. He acknowledged, however, that unmasking bad actors behind hacks was central to the company’s mission.<\/span><\/p>\n

“The whole point is that when situations like that happen, there’s then an incentive from the community that’s actually getting exploited in these situations to actually then go out and put in real work and real hours to try to figure out who’s behind the fraud in order for them to be potentially reported to the authorities,” he said. “This is the general intention.”<\/p>\n

Miguel Morel added that Arkham’s target market is large hedge funds and traders, asserting that most people aren’t interested in small individual and private wallets. <\/span><\/p>\n

Even so, a few of the comments made by the <\/span>CEO<\/span><\/a> were anything but reassuring for certain panelists, with one commentator saying the business model would effectively “incentivize people to rat on others.”<\/span><\/p>\n

\u201cWhat I’m concerned with is the Pandora’s box that opens when you incentivize people financially to attack people,\u201d <\/span>said<\/span><\/a> renowned crypto trader Scott Melker, who called today’s Crypto Town Hall a \u201c<\/span>must listen<\/span><\/a>, He pointed out that it could be very easy for someone to choose a person “they don’t like and put together a story on the blockchain that is false.”<\/span><\/p>\n

Melker vehemently believed that Morel’s responses were disingenuous, pointing to the fact many people don’t realize they are “leaving bread crumbs for some amateur sleuth to put a story against them.”<\/span><\/p>\n

Ran Neuner, also known as <\/span>@cryptomanran<\/span><\/a>, said he is also skeptical. But not only because of the incentives, but also because the company has made some costly mistakes in the recent past, such as a <\/span>false alarm<\/span><\/a> the firm raised that caused the crypto market to fall 7% in an hour. <\/span><\/p>\n

Arkham’s CEO stuck to his guns and defended the company and what they are trying to do, pointing repeatedly to the fact that this can help reduce scams and hacks, and that his target market are larger players. <\/span><\/p>\n

Taking to Twitter <\/span>several times<\/span><\/a> to <\/span>assurance<\/span><\/a> the pushback generated, Morel assured those present on today’s <\/span>spaces<\/span><\/a> that the issues raised “will be mitigated,” and concluded that he understands the “great responsibility” he holds.<\/span><\/p>\n

Morel’s live audio appearance followed his publication of a 360-word extended Tweet<\/a> addressing “some legitimate criticisms of how we’ve implemented certain features.”<\/p>\n

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