Arkham airdrop privacy scare, Hong Kong's virtual asset trading training, Memecoin's descent, and BTC's stability - today's crypto news unpacked.
Arkham Intelligence Airdrop Doxxes Users

Arkham Intelligence Airdrop Doxxes Users

Jul 11, 2023
| Issue

Rise and shine, Datawallet Daily readers! It's the dawn of a new week and we're back with your first serving of our trusted newsletter. Buckle up as we dive headfirst into the digital deep end, bringing you the latest and most pressing stories from the last 24 hours and beyond. Hold onto your mugs, let's get this week started!

Arkham Intelligence Airdrop Doxxes Users

In the run-up to a token airdrop, Arkham Intelligence, a renowned blockchain data provider, has seemingly laid bare some user emails. These email addresses, decoded from referral links shared by enthusiastic users looking to score more points, are now in the open, marking a significant privacy concern.

Arkham announced the upcoming public sale of its new token, ARKM, set to be carried out by Binance. The token airdrop instructions were tweeted out, with the event expected to go live on July 18.

However, tech-savvy sleuths soon uncovered that the referral codes shared could be easily transformed back into the original email addresses using simple online tools, leading to a flurry of doxing on Crypto Twitter. Such information could expose users to phishing attacks and may endanger the anonymity that crypto users typically enjoy.

Arkham Intelligence, which owes part of its growth to such referral programs, hasn't yet responded to this revelation. Despite knowing the issue since January, as per a user's tweet, the company hasn't made any known steps to rectify this pressing issue.

Hong Kong looking to provide training for virtual asset trading 

A Hong Kong-based training institute is gearing up to equip virtual asset traders with the necessary knowledge for specialized industry operations. This action closely aligns with the city-state's recent decision to introduce a new licensing system for digital trading platforms and exchanges in Hong Kong

The Hong Kong Securities and Investment Institute (HKSI) is in the process of launching a series of programs and workshops focused on virtual assets in the upcoming months, as per a report by the South China Morning Post on Sunday. 

Educational offerings designed for individuals keen to boost their comprehension of the digital market are anticipated to be well-received, as suggested by HKSI's Chairman, Colin Shaftesly.

Memecoins continue their descent 

The most significant meme coins in terms of market capitalization, namely Dogecoin (DOGE), Shiba Inu (SHIB), and PepeCoin (PEPE), have been experiencing a downtrend since the previous week due to the emergence of new rivals in the industry.

Furthermore, the market's recent bearish trends, especially from Bitcoin (BTC) and Ethereum (ETH), which have a strong correlation with the rest of the market, have certainly not been beneficial.

BTC remains steady above $30K

Bitcoin remained stable above $30,000 in the early hours of Monday, as the producer price index (PPI) figures from China indicate that the worldwide cycle of liquidity tightening, which began early last year and unsettled risk assets like cryptocurrencies, may be approaching its conclusion. The PPI of China, an indicator of the cost of goods at the factory level, saw a 5.4% annual decrease in June, marking the ninth straight monthly fall and the most significant decline in seven years, as reported by the National Bureau of Statistics (NBS) on Monday.

Crypto data providers and Web3 companies netted $20 million over the past week

This week, nearly $20 million was garnered by cryptocurrency startups in diverse financing rounds, with firms engaged in data analytics appearing to be the most successful. 

Team Blackbird, the parent company of CryptoQuant, an on-chain and market data provider, publicized that it secured $6.5 million in a Series A funding round, primarily led by Atinum Investment. This funding will be utilized to enhance the global visibility and reach of both CryptoQuant and Team Blackbird.

Other breaking news

Wrapping up

As we conclude today's Datawallet Daily, we underline the importance of privacy in the face of Arkham Intelligence's airdrop debacle and highlight Hong Kong's strategic move towards better crypto education. Despite Memecoins' downward trend, Bitcoin's resilience offers market stability, and the impressive $20 million funding for crypto data and Web3 companies underscores the sector's growth potential. Keep your eyes peeled for more riveting updates in tomorrow's edition.