Inside Job? MYX Airdrop Scandal Hits $170 Million – Details

MYX Finance, a decentralized exchange, is under fire after reports disclosed that close to 10 million MYX tokens — valued at about $170 million at the time — were claimed by a cluster of addresses tied to the ￰0￱ on reports, on-chain investigators flagged a pattern that suggests many of the claims came from wallets created and used in a coordinated way. 100 Wallets Funded, Then Claimed According to blockchain trackers, about 100 newly created wallets were funded on April 19 and then used to claim airdrop rewards on May ￰1￱ timing and similarity of the transactions drew attention because the wallets followed an almost identical sequence of steps: funding, claiming, and then moving ￰2￱ have disclosed that the total amount moved represented about 1% of MYX’s total supply , a large share for an early distribution program.

BREAKING: The $MYX team is directly tied to wallets that claimed $170M from their airdrop Inside job? Here’s what we know ￰3￱ — Bubblemaps (@bubblemaps) September 11, 2025 Suspicious Transfers Point To Project Links On-chain evidence has been presented that ties at least one of the claiming wallets to a creator-linked ￰4￱ say wallet 0x4a31 sent nearly $3 million worth of MYX to a deposit address, 0xeb5A, which is alleged to be linked to a creator’s wallet, ￰5￱ transfers formed part of the narrative that led observers to call the episode a possible Sybil attack — where one actor controls many addresses to claim disproportionate ￰6￱ Denies Wrongdoing, Promises Fixes MYX Finance has rejected claims that the core team orchestrated a coordinated ￰7￱ project acknowledged that some people asked to change addresses before launch and said some incentive streams had differing anti-Sybil ￰8￱ on reports, the team emphasized that a separate campaign called “Cambrian” included stricter checks, and it said it will tighten protections going ￰9￱ Reaction And Community Backlash Market reaction was ￰10￱ indicate the token price fell as trust eroded among traders and ￰11￱ voices on social platforms called for clearer audits and for the team to publish a transparent ledger of airdrop ￰12￱ holders demanded that questionable tokens be frozen or returned, while others warned that strong legal or regulatory moves could follow if proof of intentional misconduct ￰13￱ say the on-chain patterns are suggestive but not conclusive proof of an inside ￰14￱ to reports, links between wallets rely on behavioral analysis and the trace of transfers; critics argue these methods can point to correlations without proving direction or ￰15￱ image from Meta, chart from TradingView