$MYX Team Accused in $170M Airdrop Scandal – Inside Job Now

Airdrop insider trading myx finance MYX’s airdrop wasn’t “decentralized demand,” it was 100 OKX-funded clones moving in sync to scoop 9.8M MYX—about $170M—tying the creator to what analysts call the biggest Sybil ever. Journalist Hassan Shittu Journalist Hassan Shittu About Author Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in... Author Profile Share Copied Last updated: September 11, 2025 Blockchain analytics firm Bubblemaps has escalated allegations of misconduct against decentralized exchange MYX Finance, claiming the project’s core team is directly tied to wallets that siphoned $170 million worth of MYX tokens from a recent airdrop. The firm’s findings raise questions about what may be one of the largest Sybil attacks ever recorded in the crypto sector. Fresh Analysis Ties MYX Creator to Wallets Behind Suspicious Token Claims. The controversy first surfaced on September 9 when Bubblemaps published an analysis pointing to around 100 newly created wallets that claimed 9.8 million MYX tokens, roughly 1% of the project’s supply. Valued at more than $170 million at the time, the tokens were allegedly secured in a coordinated fashion, with each wallet funded through OKX on April 19 and later claiming tokens simultaneously on May 7. Bubblemaps described the pattern as “the biggest airdrop Sybil of all time.” MYX, which saw its fully diluted valuation soar to $17 billion within 48 hours of launch, was quick to defend itself. The project acknowledged that some users requested address changes before launch, but denied any wrongdoing. In a statement, MYX Finance insisted that its reward campaigns were designed to remain open and inclusive, even allowing large-scale participation, and pledged to strengthen Sybil protections in the future. That explanation, however, did little to ease concerns. Bubblemaps returned with fresh evidence today, saying its new analysis shows a direct connection between MYX’s creator wallet and one of the addresses involved in the suspicious activity. According to the blockchain data, the trail began with the creator’s wallet, 0x8eEB, and extended across multiple chains, eventually linking to wallet 0x4a31. This address, Bubblemaps said, matched the same funding and claiming patterns as the 95 other Sybil wallets identified earlier. What stood out, the firm noted, was that wallet 0x4a31 sent $2.8 million worth of MYX to a deposit address, 0xeb5A, which has been linked directly to the project’s creator. Bubblemaps argued that this overlap cannot be dismissed as a coincidence. “If these 100 wallets really were independent, why do they all share the same funding and claiming pattern? Why does one share a deposit address with the token creator?” the firm asked in its latest post. The accusations have added fuel to growing doubts around the legitimacy of MYX’s token distribution. The suspected Sybil allocation, worth over $200 million at its peak before token prices corrected, has cast a shadow over the project’s rapid rise. Analysts argue that if proven, the scandal could undermine trust not only in MYX but also in the broader credibility of token distribution campaigns. As of yesterday, MYX Finance maintained its position that the distribution process was fair. The project emphasized that only its “Cambrian”... https://cryptonews.com/news/myx-team-accused-in-170m-airdrop-scandal-inside-job-now-confirmed/ #crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptonewstoday ***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT! This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research. bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple