MYX Finance, a decentralized change, is below fireplace after reviews disclosed that near 10 million MYX tokens — valued at about $170 million on the time — have been claimed by a cluster of addresses tied to the mission.
Primarily based on reviews, on-chain investigators flagged a sample that implies lots of the claims got here from wallets created and utilized in a coordinated manner.
100 Wallets Funded, Then Claimed
In keeping with blockchain trackers, about 100 newly created wallets have been funded on April 19 after which used to say airdrop rewards on Might 7.
The timing and similarity of the transactions drew consideration as a result of the wallets adopted an nearly similar sequence of steps: funding, claiming, after which transferring tokens.
Studies 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 workforce is straight tied to wallets that claimed $170M from their airdrop
Inside job?
Right here’s what we all know 🧵 pic.twitter.com/Kq1ubEgUBU
— Bubblemaps (@bubblemaps) September 11, 2025
Suspicious Transfers Level To Challenge Hyperlinks
On-chain proof has been introduced that ties no less than one of many claiming wallets to a creator-linked handle. Investigators say pockets 0x4a31 despatched almost $3 million value of MYX to a deposit handle, 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 doable Sybil assault — the place one actor controls many addresses to say disproportionate rewards.
Crew Denies Wrongdoing, Guarantees Fixes
MYX Finance has rejected claims that the core workforce orchestrated a coordinated seize. The mission acknowledged that some individuals requested to vary addresses earlier than launch and stated some incentive streams had differing anti-Sybil protections.
Primarily based on reviews, the workforce emphasised {that a} separate marketing campaign referred to as “Cambrian” included stricter checks, and it stated it would tighten protections going ahead.
Worth Response And Neighborhood Backlash
Market response was swift. Studies point out the token value fell as belief eroded amongst merchants and holders. Neighborhood voices on social platforms referred to as for clearer audits and for the workforce 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. In keeping with reviews, hyperlinks between wallets depend on behavioral evaluation and the hint of transfers; critics argue these strategies can level to correlations with out proving path or orders.
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