SPACE ID announced its airdrop on the Binance launchpad on June 9. The airdrop has attracted a large number of registrations since then. However, X-explore discovered that more than 60% of the registration accounts are Sybil. The number of Sybils has been increasing progressively since their discovery.
The on-chain researcher said that between June 15 and 16, the Sybil addresses numbered over 2000 registration accounts. The SPACE ID team is requested to reach out to X-explore for a comprehensive list of the Sybil addresses.
A Sybil attack involves an individual or organization creating multiple fake identities, often using automated tools or bots, to gain control or influence over a network or system. The attacker’s goal is typically to subvert the normal operation of the network or to gain an unfair advantage, such as manipulating online voting systems, spreading misinformation, or controlling a majority of nodes in a peer-to-peer network.
Sybils Consisted One-fifth of Arbitrum Airdrop participants
Airdrops have sparked a massive craze among blockchain users globally. Everyone is looking for the next free lunch, and as a result, many projects have started using airdrops to attract attention and reward users. However, as the ecosystem is still evolving, it has led to the appearance of superficial prosperity.
According to recent research by X-explore, over 20% of the airdrops in Arbitrum‘s airdrop in March this year were claimed by so-called “free riders” who use Sybil attacks. It is affecting the airdrops’ real significance and identifying the valuable users that project teams need support from.