MYX Finance Rejects Fraud Allegations Following 1200% Token Surge
MYX Finance has denied allegations of fraud and manipulation related to its MYX token airdrop. The platform's token surged 1200% in two days, prompting scrutiny.
Key Points
- Bubblemaps flagged suspicious activity around the MYX airdrop, claiming one entity received $170M worth of tokens.
- Approximately 100 wallets were funded through OKX before the airdrop, raising concerns about potential sybil attacks.
- These wallets collectively secured about 9.8 million MYX tokens, accounting for 1% of total supply.
- MYX Finance stated that all airdrop rewards, except for its “Cambrian” campaign, were based on legitimate trading volumes and liquidity contributions.
- The price of MYX is currently volatile, ranging between $13-$18, with a reported daily trading volume drop of 33% to $575 million.
MYX Finance emphasizes future campaigns will focus more on preventing sybil attacks while maintaining an open approach to user participation.