Cryptocurrency
Insider Trading Allegations Rock Mystiko Network Airdrop
Friday. July 26 at 2:30 AM
1 min. readMystiko Network faced accusations of insider trading during its recent airdrop, sparking community backlash. Following the distribution of XZK tokens, two wallets, '0xBca' and 'oxda8', received significantly more tokens than others, raising suspicions. While most participants got between 400 and 5,740 XZK tokens, these wallets received 59,570 and 60,325 XZK tokens, respectively. The community criticized the airdrop for benefiting insiders and airdrop hunters who exploit such events for profit without using the protocol. Mystiko Network defended the allocations, claiming the wallets were early contributors. However, concerns remain about the impact of airdrops on DeFi projects, with instances of squatters manipulating distributions. The crypto space continues to grapple with issues of fairness and transparency in airdrop events, highlighting the need for better safeguards against exploitation.