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A platform aimed at \u201cdeanonymizing the blockchain\u201d has accepted its first submission concerning information on wallet addresses connected to Terraform Labs and its co-founder,\u00a0Do Kwon<\/a>.<\/p>\n In a July 24 announcement, Arkham Intel Exchange said<\/a> it had accepted a submission from two \u201con-chain sleuths,\u201d resulting in a bounty payment of 9,519.2625 Arkham (ARKM) \u2014 roughly $5,000 at the time of publication. An anonymous user and Ergo, a self-described \u201cglorified accountant\u201d working with OXT Research, sent the platform \u201cevidence of wallets\u201d owned by Kwon and Terra. Ergo said this information could contradict public statements<\/a> from Terra on holding only one Luna Foundation Guard wallet, in which a reported 313 Bitcoin (BTC<\/a>) remains in reserve.\u00a0<\/p>\n Expanded labels for the LFG BTC address activity after running off with funds intended for defense of the UST depeg have been added to Arkham as a part of their bounty program.<\/p>\n Details and additional color on the attribution are provided below. https:\/\/t.co\/RzEqz4jj01<\/a><\/p>\n \u2014 \u2234glorified accountant\u2234 (@ErgoBTC) July 24, 2023<\/a><\/p><\/blockquote>\n Launched on July 10, Arkham has incurred negative reactions<\/a> from many in the crypto space, who describe the platform as little more than a glorified snitching service. The firm allows users to post bounties requesting information on blockchain transactions, which will be released to the public 90 days following approval at Arkham. This suggests all information on the Kwon and Terra wallet addresses may become available in late October. <\/p>\n Related: <\/em><\/strong>Terraform Labs seeks access to FTX wallets in fraud defense<\/em><\/strong><\/a><\/p>\n Terra was at the forefront of controversy in the 2022 crypto market crash when the platform\u2019s algorithmic stablecoin, TerraClassicUSD (USTC), depegged from the United States dollar. Kwon\u2019s whereabouts were largely unknown from May 2022 until March 2023, when authorities in Montenegro arrested and later sentenced him to four months<\/a> in prison for using forged travel documents. <\/p>\n Individuals connected to Terra in South Korea are also currently under scrutiny from local authorities investigating the exchange. In July, co-founder Shin Hyun-seong \u2014 also known as Daniel Shin \u2014 reportedly had his first hearing<\/a> for charges related to allegedly illicit profits from the sale of LUNA tokens.<\/p>\n Magazine: <\/em><\/strong>\u2018Terra hit us incredibly hard\u2019: Sunny Aggarwal of Osmosis Labs<\/em><\/strong><\/a><\/p>\n<\/div>\n\n