The Connext Network, a protocol that interacts with native blockchain bridges to optimize security, has come under intense scrutiny after a wallet apparently abused the protocol’s native token airdrop in a so-called Sybil attack. Masu.
The wallet in question was created just four hours before the NEXT airdrop began and was able to filter over 200 claims against itself through multiple wallets. Airdrops were limited to one claim per wallet. Known as a Sybil attack, this strategy involves creating a number of wallets that can request airdrops before selling their tokens for immediate profit.
according to Debunkthe wallet steadily converted NEXT tokens into Tether (USDT) and Ether (ETH), accumulating profits of around $38,000 shortly after the airdrop went public.
According to Connext founder and contributor Arjun Bhuptani, the wallet reportedly spammed a large number of requests and then took the airdrop user interface offline. Confirmed That it was a Sybil attack.
Bupthani added that there are 57,000 unique wallets registered in the airdrop.
