Bubblemaps Suspects $170M MYX Sybil Attack via OKX Wallets

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

The investigation started when Bubblemaps seen that these wallets acquired BNB

BNB

$934.86

transfers from the identical alternate, OKX

$3.2B

, 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 lively solely to say tokens.

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

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

In response, MYX Finance acknowledged in a publish on X that rewards had been based mostly 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 forestall manipulation.

The undertaking additionally acknowledged that some individuals had requested to alter pockets addresses earlier than the launch. In line with MYX, these requests had been permitted to encourage participation in this system.

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

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