A former Arkham employee accused Arkham of deliberately violating the terms of use of the Binance & FTX exchange.
Binance is a leading crypto exchange, known for providing high-quality crypto services for every type of crypto trader. Currently, this exchange is the best in the world in terms of 24-hour crypto trading volume on its platform. FTX was the second popular crypto exchange, but it went bankrupt in November last year because its co-founder misused customer money for personal benefits.
On Oct 5, 2023, a video arrived light in the crypto sector through Crypto Leaks, in which a former engineer from Crypto firm Arkham Intelligence revealed how the Arkham firm violated the main crypto company’s terms of use policy to link exchange users to their corresponding private cryptocurrency wallets.
The former Arkham engineer said that the Arkham platform used the backdoor of the said exchange to connect the clients’ links and further find links between their corresponding private crypto wallets.
This whistleblower is a European citizen and the CTO of Arkham Intelligence asked him to create an account on Binance & FTX exchange. The company’s executives were unable to create their direct accounts on these exchanges as they were not European citizens.
Based on the assumptions, the former Arkham engineer claimed that the Arkham company likely created several Binance and FTX accounts to improve its ability to identify the owners of Binance-linked addresses, which was a violation of user privacy and terms of service of the exchange.
When this engineer found out about this, he inadvertently violated exchange policy and then told Arkham’s CTO, but the CTO admitted he was aware of these things.
“Yes, it could be interpreted as illegal… but if he were in my shoes, he would do it anyway,” Arkham’s CTO reportedly said.
This former Arkham engineer reportedly worked for Arkham between June 2022 and October 2022. In the past, the Crypto Leaks platform has provided several 100% verified leaked information to the public, so people expect this information to be 100% verified as well.
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