As reported on Twitter this morning, Arkham Intelligence clarified that it had not observed any Bitcoin transactions from wallets connected to the US government.
Arkham Intelligence Clarified: US Government’s 10,000 Bitcoin Move Fake News
“[US government] Bitcoin wallets on the move” are based on Arkham data, according to Beetle (@1kbeetlejuice), who claimed on Twitter. However, Arkham said that this was not the case, saying, “Don’t see anything on our end.” A Twitter user named @tier10k also took a screenshot of this mention and shared it.
On-chain investigator ZachXBT from Arkham confirmed that no Bitcoin belonging to the US government had been moved. Currently, the KOL has deleted the pertinent tweets and claimed that the prior Arkham warning was a personal error.
About the Problem
The issue is thought to be caused by community labeling. According to the explanations of the company, users can manually add tags to their wallet addresses. In addition, they can also change data sets called assets.
The company claims that these manual adjustments do not reflect associations made by Arkham. Only seven Bitcoin wallets have been found to be connected to Silk Road, the darknet market where the US had seized particular cryptocurrency addresses, according to the report.
After admitting to making mistakes, it denied all accusations and said that no users had received deceptive alerts. According to a number of comments, the alert may have been caused by a peculiar transaction that involved no actual cash transfer.
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