The world of Web3 is riddled with hackers and shady individuals. So, Miguel Morel, the CEO of Arkham, is trying to deanonymize the industry with his dox-to-earn program. This controversial approach has the NFT community divided. Here’s everything you need to know.
- Arkham CEO Miguel Morel defends the controversial ‘dox-to-earn’ program. The program’s purpose is to identify bad actors and prevent fraudulent activities in the crypto industry.
- During a Twitter Spaces session, Morel addressed concerns about privacy and incentives, stating that Arkham analyzes publicly available information to find connections between entities and wallets.
- Skepticism remains as individuals raise doubts about potential financial attacks and past mistakes by Arkham. Morel maintains a focus on targeting large hedge funds and traders with their program, aiming to reduce scams and hacks. He assures users that they will address any concerns raised.
The Dox-To-Earn Program, by Arkham CEO Miguel Morel
In a recent Twitter Spaces session, Miguel Morel, the CEO of Arkham, defended their controversial ‘dox-to-earn’ program. Morel stated that the key purpose of the program is to identify bad actors and prevent fraudulent activities that have ruined the reputation of the crypto industry.
During the conversation – which included notable figures in the crypto community, such as Mario Nawfal, Scott Melker, and Ran Neuner, – Morel acknowledged the concerns raised about privacy and the incentives behind the platform. He explained that Arkham primarily analyzes publicly available information to find connections between entities and their associated wallets.
While Morel did not directly address the ‘dox-to-earn’ label, he assured people that Arkham Intelligence would vet the data available. However, he explained that finding the identities of bad actors behind hacks and scams is central to the mission.
Regarding the target market, Morel stated that large hedge funds and traders are the primary focus of Arkham. Furthermore, he explained that the program is not aimed at individual or private wallets. Despite these assurances, some individuals remained unsure. Crypto trader Scott Melker showed concern about the potential for the program to incentivize financial attacks and false narratives created against individuals. He warned against the unintended consequences of incentivizing people to harm others.
Mistakes From the Past and Pushback
Ran Neuner also showed skepticism, citing past mistakes made by Arkham. One such mistake was a false alarm that caused a 7% drop in the crypto market within an hour. Despite the pushback, Morel stood firm by Arkham’s mission. He repeatedly stated how their efforts could help reduce scams and hacks. He took to Twitter to address the criticisms raised during the session, assuring users that the concerns would be addressed and showing his awareness of the responsibility the company holds.
The live audio appearance by Morel followed the posting of a 360-word tweet where he acknowledged and addressed legitimate criticisms regarding certain features implemented by Arkham.