Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»BLOCKCHAIN NEWS»LayerZero discovered 800,000 Sybil addresses through airdrop.
BLOCKCHAIN NEWS

LayerZero discovered 800,000 Sybil addresses through airdrop.

By Crypto FlexsMay 18, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
LayerZero discovered 800,000 Sybil addresses through airdrop.
Share
Facebook Twitter LinkedIn Pinterest Email

Interoperability giant LayerZero has released over 800,000 Sybil addresses in its ongoing self-reported efforts to combat Sybil attacks.

According to LayerZero, the self-reporting process was conducted in conjunction with rigorous analysis by risk management platform Chaos Labs and blockchain analytics firm Nansen.

The sybil self-reporting phase has now concluded. Each self-reported address will receive 15% of its intended token allocation, with the remaining 85% returned to eligible users.

Between sybil’s self-reporting and LayerZero’s analysis; @chaos_labsand @nansen_ai803,093… pic.twitter.com/wH9eFcMWV5

β€” LayerZero Labs (@LayerZero_Labs) May 18, 2024

After review, the platform announced that it had identified 803,093 addresses as potential Sybils (users who create multiple fake accounts to claim more rewards from airdrops).

In early May, LayerZero released a snapshot of the upcoming ZRO token airdrop, initially announced for December 2023. Shortly after the airdrop teaser, LayerZero Labs co-founder and CEO Bryan Pellegrino expressed concerns about the company’s employees participating in the airdrop.

On May 7, Pellegrino announced at X that all LayerZero employees had been banned from participating in the airdrop, calling it a “fireable violation.”

We will be making a public announcement about this. All LayerZero Labs employees have 100% billing restrictions and are not eligible. This will be a fireable offense, has been announced internally for some time, and always has been.

β€” Brian Pellegrino (@PrimordialAA) May 7, 2024

Additionally, following the May 1 snapshot, LayerZero began actively identifying Sybil attackers. As part of its Sybil hunting initiative, LayerZero has implemented a self-reporting mechanism to flag addresses suspected of Sybil behavior.

Each self-reported address is set to receive 15% of the intended token allocation, with the remaining 85% redistributed to eligible users. This strategic deployment was intended to protect the ecosystem from exploitative practices while encouraging honest reporting.

Initially, over 2 million addresses were flagged as potential Sybils. However, to ensure accuracy and minimize false positives, we applied more stringent criteria to refine the list into 803,093 addresses.

According to LayerZero, the results of this step are preliminary and primarily intended to exclude large clusters of addresses from bounty hunting eligibility. The platform also noted that the study’s results were inconclusive. It is stated that as the methodology evolves, some addresses may be re-evaluated and potentially removed from the Sybil list.

The next phase, called Sybil Bounty Hunting, begins May 18. At this stage, LayerZero invites the community to participate in Sybil address identification based on clear requirements. Bounty hunters must report at least 20 addresses, transparent and robust methodology.

Successful reports will reward participants with 10% of Sybil’s intended token allocation, which will be granted exclusively to the first eligible reporter from each address.

The platform emphasized that the initial list of self-reported steps will not be updated during the bounty hunting process to ensure clarity and consistency for participants.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Genius ACT specifies the House of Representatives, and Stablecoin Law can pass this week.

July 17, 2025

Tethers in September, completing USDT support for Omni, Bitcoin Cash SLP, KUSAMA, EOS and Algorand

July 12, 2025

From Wall Street to Wallet: Ark Defai redefines financial architecture.

July 7, 2025
Add A Comment

Comments are closed.

Recent Posts

MultiBank Group To List $MBG Token On Gate.io And MEXC During Official Token Generation Event

July 18, 2025

Earn $4,777 Daily! PaxMining Leads 2025’s Record-Breaking Bitcoin Mining Boom

July 18, 2025

GSR Leads $100M Private Placement Into Nasdaq-listed MEI Pharma To Launch First Institutional Litecoin Treasury Strategy Alongside Charlie Lee

July 18, 2025

KuCoin Launches XStocks, Delivering A One-Stop Access Point To Top Global Tokenized Equities

July 18, 2025

πŸ’΅ FREE $18 USDT – Just For Signing Up!

July 18, 2025

How Does AIXA Mining Break Traditional Barriers?

July 18, 2025

How Does AIXA Mining Break Traditional Barriers?

July 18, 2025

The future of EF ecosystem development

July 18, 2025

Satoshi-Aera Bitcoin Whale moves another 40K BTC to Galaxy Digital.

July 18, 2025

Behind The Surge In XRP, DLMining Brings New Opportunities To Mine BTC With Your XRP

July 18, 2025

The strategy has hit the highest market cap since the Rally Bitcoin rally.

July 17, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

MultiBank Group To List $MBG Token On Gate.io And MEXC During Official Token Generation Event

July 18, 2025

Earn $4,777 Daily! PaxMining Leads 2025’s Record-Breaking Bitcoin Mining Boom

July 18, 2025

GSR Leads $100M Private Placement Into Nasdaq-listed MEI Pharma To Launch First Institutional Litecoin Treasury Strategy Alongside Charlie Lee

July 18, 2025
Most Popular

Web 3 and AI experts have chosen Dubai as their new home, but why?

January 9, 2024

Healix Protocol leverages Ethereum’s recent achievements to launch a presale of HLX tokens, a pioneer in the healthcare blockchain space.

April 10, 2024

ZachXBT Reveals Murad Mahmudov’s $24 Million Memecoin Wallet

October 10, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.