Bubblemaps, a blockchain analytics firm, has claimed that a massive Sybil attack occurred during the recent MYX token airdrop. The firm flagged approximately 100 newly funded wallets that collectively claimed 9.8 million MYX tokens, amounting to around $170 million. These wallets, receiving BNB from OKX shortly before the airdrop, displayed suspicious similarities, prompting concerns about manipulation. Bubblemaps suggested that the simultaneous claims made by these wallets at around 5:30 am on May 7 were not coincidental, indicating potential coordinated activity. In response, MYX Finance asserted that its token distribution followed genuine trading activity and liquidity contributions and mentioned its safeguards against Sybil attacks through their “Cambrian” campaign. However, they acknowledged that some users made address change requests before the airdrop to enhance participation. The rising sophistication of airdrop manipulations, such as using multiple devices for spoofing activities, has raised important questions about the integrity of token distribution processes in the crypto ecosystem.

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