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 bought 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.”
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It seems like @ArkhamIntel has moved over 25.2m $ARKM (>$56m) over the previous 2 days
Most of those funds have gone to wallets unlabeled on their platform, the place a good portion has moved to Binance 😬
Let’s check out what is going on on as a result of they will not present you… pic.twitter.com/Tx0eoi9WMd
— Nansen 🧭 (@nansen_ai) April 4, 2024
Among the many recipients, two addresses despatched over 2.6 million ARKM tokens on to a Binance market-making handle, Nansen stated, including that one other two routed the funds via new addresses earlier than ultimately reaching a distinct Binance handle, 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.
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Based in 2020, Arkham Intelligence gained prominence for disclosing quite a few crypto addresses, providing helpful insights to blockchain researchers.
The platform secured funding from varied buyers, together with Bedrock Capital, D1Ventures, Draper Associates, Sam Altman, and notably, Binance, which not solely supported Arkham via 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 relating to the revelations, leaving uncertainties about whether or not the token gross sales originated from the Arkham staff or its backers.
Learn extra: Nansen’s clients get phishing emails after third-party vendor leak
