Mudit Gupta from Polygon, a rival of zkSync, criticized the zkSync token airdrop, suggesting it could be heavily exploited by bots due to inadequate anti-bot measures.
Ethereum’s zkSync, a layer-2 scaling solution using zero-knowledge proofs, has received criticism from crypto experts for its alleged failure to implement sufficient measures against Sybil attacks and for the perceived unfair distribution of its token, zkSync (ZK).
zkSync Faces Criticism Over Airdrop Implementation
Mudit Gupta, Polygon’s information security chief, expressed strong criticism regarding zkSync’s recent token airdrop, labeling it as potentially the most exploitable and exploited airdrop to date. Gupta highlighted concerns over the airdrop’s vulnerability to Sybil attacks, noting a lack of effective Sybil filtering mechanisms.
zkSync had announced that 695,232 wallets were eligible to claim its ZK token airdrop, accompanied by a list of seven criteria aimed at preventing Sybil attacks. However, critics, including Adam Cochran from Cinneamhain Ventures, pointed out flaws in these criteria, suggesting they were easily circumvented by potential exploiters while posing minimal barriers to genuine users.
Source: Adam Cochran
The controversy underscores ongoing challenges in designing fair and secure token distribution mechanisms within the cryptocurrency space, particularly regarding the prevention of Sybil attacks during airdrop events.
Controversy Surrounding zkSync’s ZK Token Airdrop
Following zkSync’s ZK token airdrop, there has been significant backlash and scrutiny from various stakeholders within the cryptocurrency community. Crypto analytics firm Nansen clarified its role, stating it did not conduct anti-Sybil checks or advise on token allocations for the airdrop. Instead, Nansen provided data on specific wallet segments, including whales and known scammers.
Criticism escalated when crypto researcher “Ignas” pointed out zkSync’s deliberate decision not to implement stringent anti-Sybil measures. Ignas referenced zkSync’s press release, which justified this approach by claiming that strict Sybil detection often excludes genuine users through arbitrary filters.
Meanwhile, an account named “Sybil Horror 6” on the X platform estimated that approximately 135 million ZK tokens could potentially be allocated to Sybil wallets, based on data from LayerZero Labs. This estimation suggests a significant portion of the airdropped tokens may have ended up in wallets designed to exploit the distribution system.
The fallout from these revelations has been compounded by a sharp decline in the ZK token’s value, dropping approximately 43% in the past 24 hours on platforms like Aevo and PancakeSwap. These declines coincided with zkSync’s release of detailed information about the airdrop.
As of now, Matter Labs, the development firm behind zkSync, has not responded to requests for comment on the controversy.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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