LayerZero Launches Sybil 'Bounty Hunting' Initiative, Identifies 800,000 Addresses in Airdrop Scheme

LayerZero Launches Sybil 'Bounty Hunting' Initiative, Identifies 800,000 Addresses in Airdrop Scheme



Interoperability leader LayerZero's recent self-reporting effort to mitigate Sybil attacks has identified over 800,000 addresses implicated in an airdrop scheme.



LayerZero collaborated with risk management platform Chaos Labs and blockchain analytics firm Nansen for a meticulous analysis. The investigation revealed 803,093 addresses as potential Sybil actors, defined as users creating multiple fake accounts to maximize airdrop rewards.



In early May, LayerZero announced a snapshot for its forthcoming ZRO token airdrop, initially unveiled in December 2023. Subsequently, co-founder and CEO Bryan Pellegrino addressed concerns about employee participation in the airdrop. On May 7, Pellegrino declared on X that employee participation in the airdrop would be a "fireable offense."



Following the May 1 snapshot, LayerZero intensified


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#Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #LayerZero, #News, #Regulations

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