Well. It would seem that Nansen woke up today and made the conscious decision to choose violence. In a dramatic fashion, they started a very interesting Twitter thread, publicly shaming their biggest competitor Arkham Intelligence.
Apparently, the guys at Arkham have been more than a little bit too shady. And Nansen got the receipts too! Let’s get into it, shall we?
Tracking the token trail
Nansen’s exposé takes us on a wild journey, following trails of Arkham’s questionable transactions. First off, Arkham has been moving a huge stash of 25.2 million of its $ARKM tokens, which stacks up to over $56 million going by the price at press time, and guess what? They did it in just two days.
The tokens didn’t exactly take the main road either. A large pile of this was sent off to wallets that even Arkham didn’t bother to mark on their platform. And the most eyebrow-raising part is that a huge amount somehow ended up with Binance, everyone’s favorite global crypto exchange.
Using their own tool, Nansen did a quick search and showed us two Arkham addresses that were quite literally bleeding tokens. The ‘Arkham Multisig’ lost 20 million $ARKM, and ‘Arkham Allocation’ said goodbye to 5.2 million. See below:-
Tangled transactions
But the plot gets thicker.
‘Arkham Multisig’ didn’t just pass along its 20 million $ARKM in one go. Oh no. It first sent it to a Safe, which a kind of secure vault for cryptocurrencies. This Safe then took 5 million $ARKM and handed it over to a new address.
And then just one day later, 1 million of these tokens, worth about $2.21 million, found their way to Binance. This new address, now 4 million $ARKM lighter, looks ready for more action, which Nansen suggests could be watched live through smart alerts.
Moving on to ‘Arkham Allocation,’ things got even more bizarre.
It split up 5.2 million $ARKM and sent it off to four addresses, taking a small test drive with three of them first. This is a usual trick to make sure you got the address right before sending a big amount. But weirdly enough, these addresses weren’t marked on Arkham’s own list. Check this out:-
Next up, one address sent 230k $ARKM to another, and that amount eventually made its way to a Binance address Nansen said is used for market making, a service by GSR. Another 2.385 million $ARKM took the same route from a different address, ending up at the same Binance market-making spot.
The money didn’t stop moving there. Another 2.385 million $ARKM went through a chain of four addresses before ending up in a different Binance address. I got to say, though, it’s not every day you see money bounce around like that on its way to the final stop.
In the midst of all this, 200k $ARKM is sitting tight in a wallet labeled 0x9eac40, not yet sent off to Binance. But considering the pattern so far, Nansen is confident it might just be about to take that trip, because just 13 days before, this wallet had a single $ARKM come in, which is nothing compared to its quiet past, now is it?
With its Twitter thread, Nansen has certainly got the crypto community’s attention right now. And as for Arkham? They’re yet to make a comment.
Note: Every single information shared in this article was sourced directly from Nansen.
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