The evidence on the chain has been raised, which shows that Avantis’ recent AirDrop was operated in a Sybil attack of $ 4 million.
Summary
Blockchain Analytics Platform Bubblemaps Just issued A detailed breakdown of a coordinated Sybil attack that the recent Avantis (AVNT) AirDrop operated. The data suggests that a single actor has effectively gaming the criteria of the eligible and undermines the intention of the airdrop to reasonably reward real community participants.
“AVNT took the headlines last week after an airdrop of 12.5%. Some users walked away with 6 digits – but one entity may have taken much more,” wrote Bubblemaps in a message about X.
According to Bubblemaps’ findings, a single entity succeeded in getting $ 4 million in AVNT tokens over 300+ wallet addresses. The portfolios, many of which were slumbering in dormant prior to the AirDrop, identical patterns followed:
- Financed from Coinbase
- Received USD -Munt (USDC) from a narrow cluster of sources
- Exchanged assets on the Avantis platform
- The AVNT AirDrop claimed
- Consolidated tokens in fewer addresses
- Funds transferred to CEXS such as Bybit and Gate in Lockstep
“This was clearly coordinated,” Bubblemaps stated and noted that the attack closely reflected the previous Sybil incident in which the MyX -Token was involved.
Exchange debut and 12.5% Airdrop Fuest Avantis Rally
The Sybil Attack Revelations came only a few days after AVNT – the native token of Avantis, a decentralized perpetual futures – exchange built on the basic network – was mentioned on Coinbase, Kraken and Bitunix on September 9.
Further Momentum came on 15 September with triple mentions on Binance, Upbit and Bithumb, which propells AVNT in a parabolic rally. The Token rose to a new highest point of $ 1.57 and pushed its market capitalization from $ 180 million to $ 298 million and daily trading volume after $ 2 billion.
The exchange activity strengthened the impact of Avantis’s AirDrop 1, which was launched on 9 September in addition to the first offers. The campaign distributed 12.5% of the total AVNT delivery to more than 65,000 eligible portfolios, based on the activities of the chain.
