Cryptocurrency startup Arkham Intelligence has introduced its Intel Exchange platform, which aims to monetize blockchain snoops. The platform allows users to reveal previously anonymous identities linked to blockchain addresses in exchange for ARKM tokens. Arkham Intelligence can then share or sell this information to any interested entities, including governments, tax authorities, intelligence agencies, or marketing companies. The company claims that the data will only be used to investigate scammers and hackers involved in crypto crimes. Arkham Intelligence’s platform features its own AI called “Ultra,” which matches blockchain addresses to real people using algorithmic technology.
The development of Ultra was supported by the founders of Palantir and OpenAI. Palantir, a controversial company in the surveillance industry, was founded in 2004 by PayPal founder Peter Thiel with financial support from the CIA. The company’s client list includes well-known organizations such as the CIA, FBI, NSA, and Pentagon. In Germany, Palantir’s product “Gotham” has been adapted for use by the Hessian police.
Arkham Intelligence’s platform works by allowing users to offer information that combines blockchain data with real-world information for sale on the platform in exchange for ARKM tokens. The platform also includes a bounty program where users can offer tokens for breaking the privacy of a Bitcoin address and obtaining the user’s name. Arkham Intelligence charges fees ranging from 2.5% to 5% for each deal made on the platform.
The company recently hosted an initial coin offering (ICO) for its ARKM token, in partnership with Binance. Within minutes of the launch, over 55,000 participating entities had already been awarded 3.7 million ARKM tokens. The exact details and functions of the platform can be found in the whitepaper available for download on the Arkham Intelligence website, with one chapter dedicated solely to the “Arkham incentive program.” The paper outlines various ways in which users can earn rewards, including partner rewards, affiliate link income, and discounts for holding ARKM tokens.
While blockchains are pseudonymous rather than anonymous, it is still possible to link blockchain transactions to real identities in certain circumstances. Bitcoin addresses, for example, can be linked to identities when transactions occur on exchanges or involve traditional currency deposits or withdrawals. Methods such as mixers or tumblers can offer some anonymity by mixing bitcoin holdings, but they are not foolproof. Cryptocurrencies like Monero or Zcash aim to provide greater privacy and anonymity.
Critics in the cryptocurrency community have raised concerns about the potential misuse of Arkham Intelligence’s platform, such as spreading false information or compromising the privacy and safety of crypto owners. Arkham Intelligence CEO Miguel Morel has emphasized that the platform is properly regulated and aimed at exposing scammers and hackers involved in crypto exploits, rather than encouraging unethical behavior. The company claims to have full control over all data shared on the platform and is committed to ensuring data security. However, doubts have been raised about Arkham Intelligence’s expertise in data security, as the company attempted to protect users’ private email addresses using Base64 encryption, which is easily decoded.
Overall, Arkham Intelligence’s Intel Exchange platform introduces new possibilities for revealing the identities behind blockchain addresses. However, it also raises concerns about privacy, data security, and potential misuse.
