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On July 24, Arkham Intel Exchange, a platform with a specific focus on investigating blockchain, announced that they have received their inaugural submission concerning wallet addresses. The submission is directly associated with Do Kwon and Terraform Labs, marking an intriguing start for the service.
Arkham Intel Exchange rewarded two intrepid on-chain detectives with an impressive bounty of 9,519.2625 Arkham (ARKM), approximately $5,000. The pair, an unidentified user and a self-proclaimed "glorified accountant" named Ergo from OXT Research, sent compelling proof of wallet ownership linked to Kwon and Terra.
Ergo proposed that their findings might conflict with Terra's prior public assertion of possessing only a single Luna Foundation Guard wallet. This account reportedly still holds 313 Bitcoin (BTC) in reserve. Consequently, the groundbreaking revelation has drawn considerable attention from both within and outside the crypto space.
The crypto community has had mixed responses to Arkham, which began operations on July 10. Many have unenthusiastically tagged it as an enhanced tattle-telling service. However, the platform provides a venue for users to post bounties for insights on blockchain transactions. This data will be available to the public 90 days after Arkham's approval. Indicatively, all data linked to the wallet addresses of Kwon and Terra could be accessible to the public by late October.
Terraform Labs has previously been at the center of a heated debate. In 2022, its algorithmic stablecoin, TerraClassicUSD (USTC), unexpectedly uncoupled from the US dollar amidst a significant market crash. This debacle was closely followed by a period of silence from Kwon, from May 2022 to March 2023. He was eventually found in Montenegro, where he was arrested and subsequently spent four months in jail due to falsified travel documents.
Parallelly, associates of Terraform Labs in South Korea are facing scrutiny from local investigative bodies. Most notably, co-founder Shin Hyun-seong, also known as Daniel Shin, had his initial court hearing in July. The charges levied against him relate to suspected illicit gains from the LUNA tokens sale.
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