Bubblemaps Suspects $170M MYX Sybil Attack via OKX Wallets

In a September 10 submit on X, the corporate recognized about 100 digital wallets that confirmed an identical habits and picked up almost 10 million MYX tokens, valued at round $170 million.

The investigation started when Bubblemaps observed that these wallets acquired BNB

BNB

$932.68

transfers from the identical alternate, OKX

$3.49B

, inside a brief timeframe. These deposits occurred a month earlier than MYX’s token distribution.

The wallets had no earlier transaction historical past and have become energetic solely to assert tokens.

On Might 7, these addresses claimed their tokens in shut succession. Bubblemaps argued that the timing and uniformity of the claims instructed they weren’t unrelated customers, however possible a part of a coordinated effort.

This habits resembled a “Sybil assault”, the place one particular person controls many accounts to unfairly profit from reward programs.

In response, MYX Finance said in a submit on X that rewards have been primarily based on precise utilization, particularly buying and selling and liquidity exercise on their platform. They added that the airdrop was a part of the “Cambrian” marketing campaign, which included measures to stop manipulation.

The mission additionally acknowledged that some contributors had requested to vary pockets addresses earlier than the launch. In accordance with MYX, these requests have been permitted to encourage participation in this system.

Nonetheless, Bubblemaps didn’t discover the mission’s clarification convincing. The group criticized MYX’s assertion for being obscure and even instructed it learn prefer it was written by synthetic intelligence (AI).

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