Arkham, a blockchain analytics company, has launched a program that will reward those who can identify owners of wallets connected to digital assets scams.
Arkham, a de-anonymizing company that specializes in social media platforms like X and XL, has announced four rewards to be offered by the Restore the Republic memecoin (RTR).
The owner of every wallet that was used to snipe the launch of RTR (a memecoin themed on Donald Trump) will receive a bounty.
Arkham: $50,000 bounty. The Restore The Republic Team has funded and created a bounty program to find out the identity and other relevant information of the four wallets who snuck the RTR Token Launch .”
In this context, sniping is a type of insider trade where an entity gains an unfair advantage when they heavily load up on a particular coin and buy it at a lower price than the public.
Arkham says that the bounty will go to anyone who can identify or provide strong, verifiable proof leading to the identity of the owner of these wallets.
RTR’s rise and fall coincided with Donald Trump’s son Eric, who announced the launch of “something big” in the DeFi space. However, he denied that memecoin was connected to him or former President Trump.
RTR spiked to $0.0217 from $0.00737 on 8th August before crashing to $0.00471 immediately, a 78% decline.
It was announced a few weeks after Eric Trump made his announcement that Donald Trump would be launching a crypto platform called The DeFiant Ones.
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As new information becomes available, this post Arkham launches a bounty to identify wallets associated with a fraudulent altcoin project.
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