Arkham Intel Makes Do Kwon Crypto Wallet Hunt Official, Rewards 2 Blockchain Sleuths

Arkham

Arkham Intel Exchange celebrates a milestone as two brilliant blockchain sleuths successfully claim the first-ever bounty reward for uncovering crucial evidence related to Do Kwon’s elusive crypto wallets.

In an exciting revelation, the platform announced on Twitter its acceptance of a submission from these two remarkable “on-chain sleuths,” awarding them a bounty payment of 9,519.2625 Arkham (ARKM), valued at approximately $5,000.

Since its launch on July 10, Arkham Intel Exchange has not been without its critics within the crypto community. Some skeptics have labeled the platform as a glorified “snitching service.” Nevertheless, Arkham’s concept has empowered users to post bounties seeking valuable information about blockchain transactions.

Arkham Bounty Hunters Raise Questions About Terra’s Wallet Holdings

An anonymous user, alongside Ergo, a self-described “glorified accountant” associated with OXT Research, has come forward with potential evidence of wallets owned by Kwon and Terra.

This information raises questions regarding Terra’s public statements on their wallet holdings, specifically the Luna Foundation Guard wallet, which was reported to hold 313 Bitcoin (BTC) in reserve.

In a significant industry event, Terraform Labs faced a devastating collapse of its stablecoin, TerraUSD, and cryptocurrency, Luna, in May 2022. This incident marked one of the most substantial collapses ever witnessed in the crypto world.

South Korean Authorities Investigate Terra-Connected Individuals

In the wake of the catastrophic collapse of TerraUSD and Luna, the U.S. Securities and Exchange Commission wasted no time taking action against Kwon. The SEC charged him with a series of securities violations, including the alleged sale of unregistered crypto asset securities transactions.

Additionally, Kwon was accused of providing incomplete and deceptive disclosures and disseminating misleading information to investors, further exacerbating the impact of the collapse.

Kwon’s whereabouts remained largely unknown from May 2022 to March 2023. During this period of uncertainty, authorities in Montenegro apprehended him for using forged travel documents. Subsequently, Kwon faced a sentence of four months in prison for his actions.

Bitcoin nearing the $28K level drop on the daily chart: TradingView.com

In a parallel investigation, authorities in South Korea have turned their attention to individuals linked to Terra, seeking answers regarding the exchange’s activities. Among those under scrutiny is co-founder Daniel Shin. He faced his first hearing in July on charges related to supposedly gaining illicit profits from selling LUNA coins.

The emergence of new evidence surrounding Kwon and Terra’s wallet holdings adds further intrigue to the unfolding events. As the crypto community closely watches this development, the case continues to be a critical point of discussion in the industry.

Featured image from ISHN.com

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