MYX Finance, a decentralized change, is underneath hearth after studies disclosed that near 10 million MYX tokens — valued at about $170 million on the time — had been claimed by a cluster of addresses tied to the challenge.
Based on studies, on-chain investigators flagged a sample that means lots of the claims got here from wallets created and utilized in a coordinated approach.
100 Wallets Funded, Then Claimed
According to blockchain trackers, about 100 newly created wallets had been funded on April 19 after which used to say airdrop rewards on May 7.
The timing and similarity of the transactions drew consideration as a result of the wallets adopted an nearly an identical sequence of steps: funding, claiming, after which transferring tokens.
Reports have disclosed that the entire quantity moved represented about 1% of MYX’s complete provide, a big share for an early distribution program.
BREAKING: The $MYX crew is straight tied to wallets that claimed $170M from their airdrop
Inside job?
Here’s what we all know 🧵 pic.twitter.com/Kq1ubEgUBU
— Bubblemaps (@bubblemaps) September 11, 2025
Suspicious Transfers Point To Project Links
On-chain proof has been introduced that ties at the very least one of many claiming wallets to a creator-linked deal with. Investigators say pockets 0x4a31 despatched practically $3 million value of MYX to a deposit deal with, 0xeb5A, which is alleged to be linked to a creator’s pockets, 0x8eEB.
These transfers shaped a part of the narrative that led observers to name the episode a attainable Sybil assault — the place one actor controls many addresses to say disproportionate rewards.
Team Denies Wrongdoing, Promises Fixes
MYX Finance has rejected claims that the core crew orchestrated a coordinated seize. The challenge acknowledged that some individuals requested to vary addresses earlier than launch and mentioned some incentive streams had differing anti-Sybil protections.
Based on studies, the crew emphasised {that a} separate marketing campaign known as “Cambrian” included stricter checks, and it mentioned it would tighten protections going ahead.
Price Reaction And Community Backlash
Market response was swift. Reports point out the token value fell as belief eroded amongst merchants and holders. Community voices on social platforms known as for clearer audits and for the crew to publish a clear ledger of airdrop recipients.
Some holders demanded that questionable tokens be frozen or returned, whereas others warned that sturdy authorized or regulatory strikes may comply with if proof of intentional misconduct seems.
Investigators say the on-chain patterns are suggestive however not conclusive proof of an inside job. According to studies, hyperlinks between wallets depend on behavioral evaluation and the hint of transfers; critics argue these strategies can level to correlations with out proving course or orders.
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