Arkham Launches Bounty Program to Identify Wallet Owners Linked to RTR Scam

Blockchain analytics firm Arkham is rolling out a bounty program to track down the owners of crypto wallets involved in a digital asset scam.

Arkham announced that it will be offering four rewards in partnership with the Restore the Republic (RTR) memecoin project. The aim is to uncover the identities of those who used certain wallets to exploit the launch of RTR, a memecoin themed around Donald Trump.

The company is offering a $50,000 reward for information leading to the identification of the wallet owners who bought RTR tokens during their initial offering. Sniping, in this case, refers to the practice of buying up a token at a low price before it becomes widely available, giving certain individuals an unfair advantage.

Arkham’s bounty will be awarded to anyone who can provide credible evidence or successfully identify the wallets’ owners.

The RTR token’s value saw a dramatic rise from $0.00737 to $0.0217 on August 8 before plummeting by 78% to $0.00471. This surge and subsequent crash followed an announcement by Eric Trump about a major new project in the DeFi space, though he denied any connection between the memecoin and himself or his father.

In the wake of these events, Donald Trump announced plans to launch his own crypto platform, The DeFiant Ones.