Arkham Intel Exchange, a blockchain intelligence platform, recently made headlines as two brilliant on-chain sleuths successfully claimed the first-ever bounty reward for unveiling crucial evidence related to Do Kwon’s elusive crypto wallets. This milestone achievement highlights the platform’s effectiveness in harnessing the power of community-driven investigation in the blockchain space.

The bounty payment, totaling 9,519.2625 Arkham (ARKM), approximately valued at $5,000, was awarded to the anonymous on-chain sleuth and ErgoBTC. Both individuals exhibited unwavering dedication and expertise, underscoring the importance of their contributions in unraveling the mysteries surrounding Kwon’s wallet holdings.

Since its launch on July 10, Arkham Intel Exchange has faced skepticism within the crypto community, with some labeling it as a mere “snitching service.” However, this recent breakthrough serves as a testament to the platform’s potential to empower users to seek valuable information regarding blockchain transactions through posted bounties.

The evidence provided by the anonymous user and Ergo, a self-proclaimed “glorified accountant” associated with OXT Research, raises important questions regarding Terra’s wallet holdings and casts doubt on the accuracy of their public statements. Of particular interest is the Luna Foundation Guard wallet, which was reported to hold 313 Bitcoin (BTC) in reserve.

The secure transaction labels for the Luna Foundation Guard BTC address, which reveal the activity of the wallet following the disappearance of funds intended for the defense of UST’s depeg, have been added to Arkham as part of their bounty program. These labels offer insights and additional context surrounding the attribution of the wallet’s activity.

The emergence of new evidence pertaining to Kwon and Terra’s wallet holdings adds further intrigue to the unfolding events surrounding the collapse of TerraUSD and Luna in May 2022. This catastrophic incident led to the U.S. Securities and Exchange Commission taking legal action against Kwon, filing charges related to unregistered crypto asset securities transactions and deceptive disclosures.

Kwon’s whereabouts remained largely unknown until March 2023 when authorities in Montenegro apprehended him for using forged travel documents, resulting in a four-month prison sentence. Concurrently, South Korean authorities are investigating individuals associated with Terra, including co-founder Daniel Shin, who faced charges of allegedly gaining illicit profits from selling LUNA coins.

As the case garners increased attention from industry insiders, the new evidence shedding light on Kwon and Terra’s wallet holdings fuels discussions within the crypto community. The implications of these findings contribute to the ongoing dialogue surrounding transparency, security, and regulations within the cryptocurrency ecosystem.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The cryptocurrency market is highly volatile, and readers should conduct thorough research before making any investment decisions.