The “blockchain de-anonymization” platform has accepted its first submission regarding information about wallet addresses associated with Terraform Labs and its co-founder, Do Kwon.

In the July 24 Arkham Intel Exchange announcement he said accepted a contribution from two “detectives on the chain” which led to a bounty payment of 9,519,2625 Arkham (ARKM) – roughly $5,000 at the time of publication. An anonymous user and Ergo, a self-proclaimed “glorified accountant” working with OXT Research, sent the platform “evidence of wallets” owned by Kwon and Terra. Ergo said that this information can contradict public statements from Terra holding only one Luna Foundation Guard wallet with a reported 313 bitcoins (BTC) remains in reserve.

Extended labels for LFG BTC address activity after UST depeg defense funds have been used up have been added to Arkham as part of their bounty program.

Details and additional colors on the attribution are listed below. https://t.co/RzEqz4jj01

— ∴Glorified Accountant∴ (@ErgoBTC) July 24, 2023

Arkham launched on July 10 caused negative reactions from many in the crypto space who describe the platform as more than just a glorified sniping service. The firm allows users to submit bounties requesting information on blockchain transactions, which will be published 90 days after approval in Arkham. This suggests that all Kwon and Terra wallet address information may be available by the end of October.

Related: Terraform Labs seeks access to FTX wallets as part of fraud protection

Terra was at the forefront of controversy in the 2022 crypto market crash, when the platform’s algorithmic stablecoin TerraClassicUSD (USTC) split from the US dollar. Kwon’s whereabouts were largely unknown from May 2022 to March 2023, when authorities in Montenegro arrested and later sentenced to four months in prison for using forged travel documents.

Individuals connected to Terra in South Korea are also currently under the scrutiny of local authorities who are investigating the exchange. In July, co-founder Shin Hyun-seong — also known as Daniel Shin — reportedly had the first hearing for charges related to alleged illegal profits from the sale of LUNA tokens.

Magazine: “Terra hit us incredibly hard”: Osmosis Labs’ Sunny Aggarwal