{"id":10840,"date":"2025-09-16T09:21:06","date_gmt":"2025-09-16T09:21:06","guid":{"rendered":"https:\/\/bitunikey.com\/news\/on-chain-evidence-reveals-4m-sybil-attack-on-avantis-airdrop\/"},"modified":"2025-09-16T09:21:24","modified_gmt":"2025-09-16T09:21:24","slug":"on-chain-evidence-reveals-4m-sybil-attack-on-avantis-airdrop","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/on-chain-evidence-reveals-4m-sybil-attack-on-avantis-airdrop\/","title":{"rendered":"On-chain evidence reveals $4M sybil attack on Avantis airdrop"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">On-chain evidence has emerged showing that Avantis\u2019 recent airdrop was exploited in a $4 million sybil attack.<\/p>\n<div id=\"cn-block-summary-block_79a2b8e87971e951406753143b4e7192\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>One entity used 300+ wallets to drain $4M in AVNT tokens during Airdrop 1.<\/li>\n<li>The exploit followed AVNT\u2019s exchange debut on Coinbase, Kraken, and Bitunix, with listings on Binance, Upbit, and Bithumb driving the token to a $1.57 ATH.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>Blockchain analytics platform Bubblemaps just <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/x.com\/bubblemaps\/status\/1967649939825234347?t=erQGvQTGc-XkW63cJO9M7g&amp;s=19\">released<\/a> a detailed breakdown of a coordinated Sybil attack that exploited the recent Avantis (AVNT) airdrop. The data suggests a single actor effectively gamed the eligibility criteria, undermining the airdrop\u2019s intent to fairly reward real community participants.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cAVNT made headlines last week after a 12.5% airdrop. Some users walked away with 6 figures \u2013 but one entity may have taken much more,\u201d Bubblemaps wrote in a post on X.<\/p>\n<\/blockquote>\n<p>According to Bubblemaps\u2019 findings, a single entity managed to drain $4 million worth of AVNT tokens across 300+ wallet addresses. The wallets, many of which were dormant prior to the airdrop, followed identical patterns:<\/p>\n<ul class=\"wp-block-list\">\n<li>Funded from Coinbase<\/li>\n<li>Received USD Coin (USDC) from a narrow cluster of sources<\/li>\n<li>Swapped assets on the Avantis platform<\/li>\n<li>Claimed the AVNT airdrop<\/li>\n<li>Consolidated tokens into fewer addresses<\/li>\n<li>Transferred funds to CEXs like Bybit and Gate in lockstep<\/li>\n<\/ul>\n<p>\u201cThis was clearly coordinated,\u201d Bubblemaps stated, noting that the attack closely mirrored the previous sybil incident involving the MYX token. <\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\">Exchange debuts and 12.5% airdrop fuelled Avantis rally<\/h2>\n<p>The Sybil attack revelations came just days after AVNT \u2014 the native token of Avantis, a decentralized perpetual futures exchange built on the Base network \u2014 was listed on Coinbase, Kraken, and Bitunix on Sept. 9. <\/p>\n<p>Further momentum came on Sept. 15 with triple listings on Binance, Upbit, and Bithumb, propelling AVNT into a parabolic rally. The token surged to a new all-time high of $1.57, pushing its market cap from $180 million to $298 million and daily trading volume past $2 billion.<\/p>\n<p>The exchange activity amplified the impact of Avantis\u2019s Airdrop 1, which launched on Sept. 9 alongside its initial listings. The campaign distributed 12.5% of the total AVNT supply to over 65,000 eligible wallets, based on on-chain activity. <\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>On-chain evidence has emerged showing that Avantis\u2019 recent airdrop was exploited in a $4 million sybil attack. Summary One entity used 300+ wallets to drain $4M in AVNT tokens during&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1055,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10840","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/10840","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=10840"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/10840\/revisions"}],"predecessor-version":[{"id":10841,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/10840\/revisions\/10841"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/1055"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=10840"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=10840"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=10840"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}