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$46,000 Bounty for Identifying FTX Hacker: Arkham Intelligence Steps In

• Arkham Intelligence offers a bounty of 100,000 ARKM tokens (valued at $46,000) for identifying the hacker behind the now-defunct cryptocurrency exchange FTX.
• The US Department of Justice started a probe in December 2022 to find those responsible for the hack that resulted in the loss of over $415 million in cryptocurrencies.
• Users were advised to avoid updating the FTX smartphone application to avoid getting possible viruses.

Arkham Intelligence Offers Bounty

Blockchain analytics company Arkham Intelligence announced a bounty of 100,000 ARKM (the platform’s own tokens) for information leading to the identity of the hacker that compromised the now-defunct cryptocurrency exchange FTX. To obtain the bounty, “users need to identify the person or entity behind the hack” and deposit 10 ARKM as a measure meant to prevent spam submissions. Those who provide correct information will have their deposit returned along with context for their decision including research, public information and cited sources proving their conclusion is correct.

FTX Hack

When FTX was in trouble back in November 2022, representatives reported it had been hacked resulting in a loss of over $415 million in cryptocurrencies – making it one of that year’s largest crypto hacks with no person involved identified yet. In response, The United States Department of Justice started a probe into what may have been an inside job while users were advised to avoid updating FTX’s smartphone application due to potential viruses.

Laundering Funds

The hacker allegedly received tips on how to launder funds worth approximately $400 million from anonymous sources which included using services such as ChipMixer – raising suspicion about ties with government agencies or other powerful entities that could have provided such advice.

Confession From NY Resident

In June 2023, authorities report that a New York resident confessed they were responsible for hacking Bitfinex back in 2016 – adding another layer of complexity regarding security concerns within crypto exchanges before even more stringent regulations come into effect after July 24th this year when new digital asset rules are expected to be approved by FINRA and put into action by January 2024.

Coinbase Q2 Report Exceeds Expectations

Despite Coinbase being embroiled in legal battles with SEC and its founder selling 7.5 million CRV tokens totalling around $3 million debt settled on Aave, its Q1 earnings report exceeded analyst expectations showing growth despite these obstacles – furthering speculation about its potential IPO later this year or early 2024 as well as hinting at an upwards trend within crypto markets throughout 2021 & 2022 barring any major volatility caused by government intervention or natural disasters affecting mining operations & global trading hubs like Tokyo & Seoul