Arkham Intelligence, a leading blockchain-centric cybersecurity firm, recently launched “the world’s first on-chain intelligence exchange,” a platform where users can post bounties for whoever can uncover information related to the ownership of on-chain assets.
The platform – which has generated quite some controversy already, partly due to inadvertently doxing its own early adopters – was launched together with ARKM, a proprietary token meant to facilitate the exchange of information on the platform.
Now, the token has a new major holder – and it is none other than Wintermute.
Reasons For Investment Unknown
Although Wintermute has not yet released a statement regarding their purchase of $3.7 million worth of ARKM, an educated guess can be made, aside from the simplest explanation of wanting to get in on the ground floor.
Last year, Wintermute dealt with a cyberattack that left them about $160 million short. Certain analysts claimed that the attack was an inside job. Since then, no further update was provided on the situation – as far as the public is concerned, the identity and motives of the hacker are still unknown.
At the time, Arkham offered an olive branch to the attacker, announcing that if 90% of the stolen funds were returned, it would be treated as a white-hat exploit. Since this would leave the attacker with about $16 million to spare, it’s quite possible that at least some of the $3.7 million worth of ARKM tokens will soon be offered up as a reward for whoever uncovers the hackers’ identity.
Leading Investor
Today’s purchase, which marked an increase of over 700% in Wintermute’s ARKM holdings, has made the company the 10th largest holder of ARKM tokens, giving them quite a say in the future of the platform.
Regardless of the motives for the purchase, the transactions count as a strong vote of confidence in the platform, regardless of the potentially controversial nature of a platform whose main purpose goes against one of the most common values of crypto enthusiasts. The nature of the platform has already raised concerns from fans of the project that some uses of the platform – such as uncovering the identities of whales – could be immoral, if not downright dangerous.
According to CoinGecko, the price of the token is currently hovering around the $0.45 mark and is on a downward trend ever since a post-launch spike that sent the value of the token to nearly $0.80.
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