Core Insights - Bubblemaps has raised concerns about a potential record-breaking Sybil attack involving 100 wallets that claimed $170 million worth of MYX tokens during a recent airdrop [1][3] - The suspicious activity appears coordinated, with identical funding and claiming patterns across the addresses [2] - MYX Finance has defended its distribution process, emphasizing fairness and openness in its campaign rewards [4][5] Airdrop Details - The analysis revealed that all 100 wallets were funded through OKX on April 19, each receiving similar amounts of BNB, and showed no prior activity before the airdrop [3] - The wallets became eligible and claimed tokens simultaneously on May 7, raising suspicions about the randomness of the claims [3] Financial Impact - At one point, the value of the suspected Sybil allocation exceeded $200 million before the token prices eased [4] - MYX's fully diluted valuation surged to $17 billion within 48 hours of its launch, drawing significant attention [3] MYX Finance's Response - MYX Finance stated that it has always prioritized fairness and openness, and that its incentive programs are based on trading volume and liquidity contributions [5][6] - The project acknowledged user requests for address changes but did not impose prohibitions on such requests [5] Ongoing Concerns - Bubblemaps criticized MYX's defense as vague, arguing that it only deepened suspicion regarding the fairness of the airdrop [6][7] - The analytics firm questioned the credibility of MYX's response, highlighting the significant allocation to the 100 Sybil addresses [7]

Core Insights - MYX Finance has denied allegations of fraud and manipulation related to the MYX token airdrop, which saw a significant price surge of 1200% in two days [1] - The platform has faced scrutiny from analysts and blockchain analytics firm Bubblemaps, which flagged suspicious activities surrounding the airdrop [2][3] Allegations and Investigations - Bubblemaps reported that nearly 100 wallets were funded through OKX about a month before the airdrop, with each wallet receiving similar amounts of BNB [3] - These wallets collectively secured around 9.8 million MYX tokens, representing 1% of the total supply, raising concerns about the legitimacy of the airdrop [3][4] Company Response - MYX Finance clarified that airdrop rewards were allocated based on legitimate user trading volume and liquidity provider contributions, except for its "Cambrian" campaign which included anti-Sybil measures [5] - The company allowed high-volume participants to request pre-launch address changes to encourage user participation [6] Future Measures - MYX Finance plans to enhance measures against Sybil attacks in future campaigns that involve user growth incentives while maintaining an open approach in trading and liquidity provider incentive programs [7] - Following the price rally, the MYX token has experienced volatility, trading between $13 and $18, with daily trading volumes dropping by 33% to $575 million [7][8]