The Blockchain Bublemaps analysis firm has increased accusations of misconduct against the decentralized exchange of Finance Myx Finance, claiming that the central team of the project is directly linked to the wallets that diverted the tokens Myx worth $ 170 million of a recent Airdrop.
The signing findings raise questions about what one of the largest sybil attacks ever registered in the cryptographic sector can be.
Fresh analysis links Myx’s creator to wallets behind the claims of Token suspects
The controversy first emerged on September 9 when Bubblemaps published an analysis that pointed to about 100 newly created wallets that claimed 9.8 million tokens Myx, approximately 1% of the project supply.
Valued at more than $ 170 million at that time, the tokens supposedly secured in a coordinated manner, with each wallet financed through OKX on April 19 and then claiming tokens simultaneously on May 7.
Bublemaps described the pattern as “the greatest Airdrop sybil of all time.”
Myx, who saw that his completely diluted assessment shot at $ 17 billion within 48 hours after launch, defended himself quickly. The project acknowledged that some users requested changes of management before launch, but denied any irregularity.
In a statement, Myx Finance insisted that his reward campaigns were designed to remain open and inclusive, even allowing large -scale participation, and promised to strengthen Sybil’s protections in the future.
That explanation, however, did little to relieve concerns. Bublemaps returned with a new evidence today, saying that his new analysis shows a direct connection between the creative wallet of MyX and one of the directions involved in the suspicious activity.
According to Blockchain data, the path began with the creator’s wallet, 0x8eb, and extended through multiple chains, and is finally linked to the 0x4a31 wallet.
This address, said Bubblemaps, coincided with the same financing and claim patterns as the other 95 Sybil wallets identified above.
What stood out, said the firm, was that the 0x4A31 wallet sent $ 2.8 million in MyX to a deposit address, 0xeb5a, which has been directly linked to the creator of the project.
Bublemaps argued that this superposition cannot be discarded as a coincidence.
“If these 100 wallets were really independent, why do they all share the same financing and claim pattern? Why is a deposit address with the tokens creator?” The firm asked in its last publication.
The accusations have added fuel to increasing doubts around the legitimacy of myx tokens distribution. The alleged assignment of Sybil, with a value of more than $ 200 million at its maximum point before the prices of the tokens are corrected, has thrown a shadow on the rapid increase in the project.
Analysts argue that if demonstrated, the scandal could undermine confidence not only in MyX but also in the broader credibility of tokens distribution campaigns.
As of yesterday, Myx Finance maintained his position that the distribution process was fair. The project emphasized that only its “Cambrian” campaign had strict anti-Sybil measures, while other incentive programs focused on commercial volume and the provision of liquidity.
Myx also emphasized that he respected the participation of all users, including those with broad participation.
But Bublemaps has ruled out these answers as insufficient. The analysis firm described myx’s statement as vague and even compared it with an answer generated by AI, questioning the disposition of the project to address the specific links in the chain discovered.
“Sea Myx Finance, launches your Token, run an Airdrop campaign, 100 Sybil addresses receive 1% of the supply, they go from 0 to $ 20B FDV during the night and release a long and vague GPT answer,” Bublemaps wrote.
The investigation is ongoing, and MyX has not yet provided a detailed refutation to the direct wallet connections presented by Bubblemaps.
$ Myx Price falls in the middle of a renewed approach in the Sybil attack led by the Airdrop team
$ MyX has been pressed after a new scrutiny about a suspicious Airdrop scandal.
According to CoinmarketCap, the Token is traded at $ 13,81, 17% less in the last 24 hours, although even more than 1,000% during the past week.
The accusations focus on what analysts describe as a Sybil attack, where multiple wallets are used to claim huge rewards.
Often driven by greed instead of sabotage, tactics has become a recurring problem in cryptography. The projects now implement advanced monitoring tools to detect such behavior, but the attackers continue to adapt.
The past cases highlight the problem scale. In 2023, an actor controlled 21,877 wallets in Zksync using bots that imitated normal commercial activity. The scheme costs only $ 1.50 to $ 2 in ETH rates per wallet, which makes detection difficult.
In 2024, Io.net, based in Solana, was beaten by a Sybil exploit that falsified 1.8 million GPUs to claim rewards, which forced the network to review its security model.
The controversy about MyX shows that even high profile projects remain vulnerable. As Tokens launches attract massive sums, Sybil’s activity continues to test the limits of cryptography defenses.
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