MYX Finance, a decentralized alternate, is beneath fireplace after stories 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 undertaking.
Based mostly on stories, 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 line with blockchain trackers, about 100 newly created wallets have been funded on April 19 after which used to assert airdrop rewards on Could 7.
The timing and similarity of the transactions drew consideration as a result of the wallets adopted an nearly equivalent sequence of steps: funding, claiming, after which transferring tokens.
Stories have disclosed that the overall quantity moved represented about 1% of MYX’s complete provide, a big share for an early distribution program.
BREAKING: The $MYX group 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 price 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 potential Sybil assault — the place one actor controls many addresses to assert disproportionate rewards.
Group Denies Wrongdoing, Guarantees Fixes
MYX Finance has rejected claims that the core group orchestrated a coordinated seize. The undertaking acknowledged that some folks requested to alter addresses earlier than launch and mentioned some incentive streams had differing anti-Sybil protections.
Based mostly on stories, the group emphasised {that a} separate marketing campaign referred to as “Cambrian” included stricter checks, and it mentioned it’ll tighten protections going ahead.
Value Response And Group Backlash
Market response was swift. Stories point out the token value fell as belief eroded amongst merchants and holders. Group voices on social platforms referred to as for clearer audits and for the group to publish a clear ledger of airdrop recipients.
Some holders demanded that questionable tokens be frozen or returned, whereas others warned that robust authorized or regulatory strikes may observe if proof of intentional misconduct seems.
Investigators say the on-chain patterns are suggestive however not conclusive proof of an inside job. In line with stories, 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.
Featured picture from Meta, chart from TradingView
Editorial Course of for bitcoinist is centered on delivering totally researched, correct, and unbiased content material. We uphold strict sourcing requirements, and every web page undergoes diligent overview by our group of prime know-how consultants and seasoned editors. This course of ensures the integrity, relevance, and worth of our content material for our readers.
