Arkham Intelligence

Arkham's core product is a free web app at intel.arkm.com that attaches real-world names to blockchain addresses. Instead of a bare address you see an entity page: an exchange's hot wallets, a fund's positions, a government's seized coins. Each page shows current holdings, historical balance, counterparties and transfers, and the Visualizer draws those transfers as a graph you can expand wallet by wallet.

The attribution is partly Arkham's own work and partly crowdsourced. It became known in 2022 for public traces: the Celsius debt positions in July, the $477 million FTX drain in November, and Sam Bankman-Fried's post-collapse transfers in December. In July 2024 its labels of German government and Mt. Gox wallets became the reference the market watched during the 50,000 BTC and 140,000 BTC distributions.

Chain coverage keeps widening: Arkham's announcements list Hyperliquid support from 22 July 2026 and Robinhood Chain from 5 August 2026, on top of Ethereum, Bitcoin, Solana and the major EVM networks.

An Arkham label is an attribution, not a court finding. Wallets get mislabeled, and a label on a shared exchange deposit address says nothing about any one customer.

On 10 July 2023 Arkham launched the Intel Exchange, which it billed as the first on-chain market for blockchain intelligence. Anyone can post a bounty in ARKM asking who controls an address; a researcher who submits proof collects it, and the resulting label can be sold or published. The largest early bounty, over 100,000 ARKM, was for the FTX hacker.

Critics called it "dox-to-earn" within hours. The objection is simple: a market that pays for names creates an incentive to unmask ordinary users who have done nothing but prefer privacy, and wrong identifications land on real people. Arkham's answer is that on-chain data is already public and the bounties mostly target hacks and institutions.

The launch week also exposed a leak of Arkham's own. Its referral links carried the user's email address in Base64, which anyone could decode; the issue dated back to at least December 2022. See the incident log below.

The web platform is free with an account: entity pages, the Visualizer, alerts and private labels do not need a subscription. That is the main practical difference from the paid wallet-labelling incumbents, where the equivalent views sit behind a monthly plan.

Arkham's paid products are the API and, since late 2024, trading; the Intel Exchange runs on ARKM. When ARKM launched, holders were offered up to 50% off platform fees and a 20% discount when paying in ARKM. For ARKM supply, unlocks and price, see the ARKM market page.

• Free: web app, entity pages, Visualizer, alerts, private labels
• Paid: API access (risk scores added to the API on 23 June 2026)
• Bounties: posted and paid in ARKM on the Intel Exchange

Arkham announced a derivatives venue in October 2024 and opened trading on 13 November 2024, adding Brazil and Ukraine within days. US spot trading went live on 1 March 2025 in 17 states. Volume never took off: CoinDesk put 24-hour volume at about $620,000 on 10 February 2026, against roughly $9 billion at Binance.

Miguel Morel denied a shutdown and said "The Arkham Exchange is becoming a fully decentralized exchange rather than a centralized exchange." Arkham gave no date for the switch, and its public announcements since have been about the analytics product, not the DEX. If you still hold a balance on the centralised venue, withdrawing it is the sensible move until the new design is published.