Blockchain forensics agency Nansen has uncovered Arkham’s shady $55 million transfers in ARKM, suggesting potential gross sales on Binance.
Arkham Intelligence, a blockchain deanonymization platform backed by Binance and others, has discovered itself in sizzling water after its rival Nansen revealed that Arkham despatched over $55 million in ARKM tokens to unlabeled addresses, which then allegedly offered the tokens on Binance.
In an X thread on Apr. 4, Nansen wrote that Arkham had moved over 25.2 million ARKM tokens over the previous few days, with a lot of the funds gone to “wallets unlabeled on their platform, the place a good portion has moved to Binance.”
Among the many recipients, two addresses despatched over 2.6 million ARKM tokens on to a Binance market-making deal with, Nansen stated, including that one other two routed the funds by way of new addresses earlier than finally reaching a unique Binance deal with, prompting intrigue over the complexity of the transfers.
Nansen famous there are nonetheless stay 200,000 ARKM that haven’t but been transferred to Binance, Nevertheless, the likelihood stays open, with latest exercise suggesting a possible future transfer to the trade, the agency added.
Based in 2020, Arkham Intelligence gained prominence for disclosing quite a few crypto addresses, providing precious insights to blockchain researchers.
The platform secured funding from numerous buyers, together with Bedrock Capital, D1Ventures, Draper Associates, Sam Altman, and notably, Binance, which not solely supported Arkham by way of its enterprise arm, Binance Labs but in addition assisted in elevating $2.5 million by way of Binance Launchpad, the trade’s crowdfunding platform for startups.
As of press time, Arkham Intelligence made no public statements concerning the revelations, leaving uncertainties about whether or not the token gross sales originated from the Arkham workforce or its backers.