Arkham levels allegations against rivals for disseminating ‘baseless rumors’ amidst token selloff.

Blockchain analytics company Arkham has accused its competitors of spreading false rumors in an attempt to create fear, uncertainty, and doubt (FUD) after concerns were raised about the transfer of its ARKM tokens. While Arkham did not specifically name the competitors, a recent post by fellow blockchain analytics firm Nansen claimed that Arkham had moved over 25.2 million ARKM tokens, worth over $56 million, to undisclosed wallets and the cryptocurrency exchange Binance. In response, Arkham stated that the token movements were in line with its published tokenomics and explained that vesting wallets would be deployed gradually as it received addresses from non-crypto investors and made new hires. Despite its previous success and the use of artificial intelligence in its blockchain analytics, ARKM’s value has dropped by almost 40% in the past month. Last November, the company received an undisclosed investment from Binance Labs.