Nansen, a blockchain analytics company, has uncovered suspicious activity involving Arkham’s $55 million transfers in ARKM, indicating potential sales on Binance.

Arkham Intelligence, a blockchain analysis platform supported by Binance, recently came under scrutiny when Nansen revealed that over $55 million in ARKM tokens were transferred to unidentified addresses, which then allegedly sold the tokens on Binance.

According to Nansen, Arkham moved more than 25.2 million ARKM tokens in recent days, with a significant amount ending up in wallets not identified by their platform, and some eventually making their way to Binance.

Among the recipients, two addresses sent 2.6 million ARKM tokens directly to a Binance market-making address, while others routed the funds through various addresses before reaching Binance, raising questions about the complexity of the transfers.

Although there are still 200,000 ARKM tokens that have not been transferred to Binance, recent activity suggests a potential future move to the exchange.

Arkham Intelligence, established in 2020, gained recognition for disclosing crypto addresses and providing valuable insights to blockchain researchers. The platform received funding from investors such as Bedrock Capital, D1Ventures, and Binance, which supported Arkham through its venture arm, Binance Labs.

As of now, Arkham Intelligence has not publicly addressed the revelations, leaving uncertainties about the origin of the token sales. This incident highlights the importance of transparency and due diligence in the cryptocurrency industry.

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