In a series of tweets, Arkham Intelligence said it did not confirm funds were moving from wallets connected to the US government. May 10th.
On his now protected account, Twitter user beetle (@1kbeetlejuice) suggested:[U.S. government] According to Arkham data, bitcoin wallets continue to move.
Arkham has refuted the rumors circulating on social media, writing:
“I can’t see anything on this side.”
The issue seems to come from community labels. Arkham explained that users can manually add labels to wallet addresses and edit data collections called entities.
Arkham states that such manual changes “do not reflect the associations” made by Arkham himself. The company explained that it has marked only seven bitcoin wallets as being associated with Silk Road, a darknet marketplace where the US has seized certain crypto addresses.
Regarding the officially tagged wallet, Arkham wrote:
“Today, no Bitcoin transactions have been sent from these wallets.”
A similar incident occurred in late April, with the self-proclaimed Crypto Newswire DB (@tier10k) suggesting that government crypto funds were on the move based on similar data.
Arkham Intelligence indicates that it is not directly responsible for any incorrect labeling. However, the platform’s approach to labeling is clearly problematic due to the fact that community he cannot easily distinguish between labels and official labels.
Post Arkham says the US government is not moving Bitcoin. Labeling issues continue to occur first with CryptoSlate.
