- Arkham’s Intel Exchange has become a punching bag with many labeling it the “dox to earn” marketplace.
- The platform, which allows members to sell user information, is expected to go live on July 18.
- Amid existing criticism, Arkham is also being accused of leaking emails of users.
Arkham’s Intel Exchange has faced an onslaught of criticism with many scornfully calling it the “dox to earn” and “snitch to earn” marketplace. Blockchain intelligence platform Akham Intelligence revealed plans to launch what it calls the world’s first on chain “intelligence exchange” earlier yesterday and since then has been the talk of the crypto town.
The platform, which is expected to go live on July 18, has a controversial premise. The new exchange will allow members to sell information about blockchain wallets or their owners to the highest bidder. Arkham ecosystem hails the innovative platform as being able to bridge the gap between on-chain analysts and traders, investors, journalists, and researchers.
However, this new idea has not gone down well with the crypto community. Several industry leaders and analysts have come forward with scathing criticisms of the intel exchange. “Creating a surveillance marketplace doesn’t make Web3 safer. Instead it makes it far more dangerous…” said Alex Pruden, CEO of Aleo.
The already dire situation was made worse for Arkham when the platform was accused of leaking the email ids of users who signed up for the exchange’s waitlist. Journalist Laura Shin in her latest article stated: “The URLs shared by users end with a string of characters that can easily be deciphered to yield their email addresses encoded in BASE64.”
Analyst Adam Cochran, known for his anti-Binance stance, also shared his opinions on the matter. According to the influencer, Arkham also logs its own users’ data, including binding their wallet addresses, device ids, and locations. They then mix that with public data scrapped from public sources, such as Twitter. “It’s free cause you are the product.”
The crypto community was also quick to criticize Binance as the Arkham token is to be issued on the Binance launchpad with 50 million tokens up for sale. “Binance is not your friend,” said one user on Twitter, adding that it had no qualms about launching a highly unethical doxing marketplace.
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