LayerZero identifies 800,000 sybil addresses in airdrop scheme

Exciting News from LayerZero: Over 800,000 Sybil Addresses Identified!

LayerZero’s recent self-reporting initiative, in collaboration with Chaos Labs and Nansen, has uncovered a staggering 800,000 sybil addresses.

After thorough examination, LayerZero has pinpointed 803,093 addresses with potential Sybil activity, where users create multiple fake accounts to claim additional rewards.

In early May, LayerZero teased its ZRO token airdrop, originally announced in December 2023. Concerns were raised by CEO Bryan Pellegrino regarding employee involvement in the airdrop.

To combat this, Pellegrino declared on X that all LayerZero staff are prohibited from partaking in the airdrop, emphasizing that it is a serious offense.

Subsequently, following the May 1 snapshot, LayerZero initiated active measures to identify Sybil actors. The self-reporting mechanism was introduced to encourage suspected addresses to come forward.

Each self-reported address is entitled to 15% of its token allocation, with the rest distributed among honest users. This approach aims to promote transparency and deter exploitative behavior.

Originally, 2 million addresses were flagged as potential Sybils. However, stringent criteria were applied to refine the list to 803,093 addresses, ensuring accuracy.

LayerZero clarified that these findings are initial and subject to refinement to exclude large address clusters. The platform highlighted that the methodology may evolve, affecting address eligibility.

The upcoming Sybil Bounty Hunting phase commences on May 18, inviting the community to participate in identifying Sybil addresses. Bounty hunters must report a minimum of 20 addresses with a clear methodology to receive a 10% reward.

Successful reports will earn participants 10% of the intended token allocation for each identified address, exclusively awarded to the first eligible reporter.

LayerZero assures participants that the initial self-reporting list will remain unchanged during the bounty-hunting phase for clarity and consistency.

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