Allegations of Insider Trading at Mystiko Network’s Second Airdrop
Allegations of insider trading have surfaced surrounding Mystiko Network’s second airdrop, as certain wallets received a disproportionate amount of airdropped tokens compared to regular users. These suspicions were first raised by blockchain reporter Colin Wu, who pointed out suspicious activities involving newly created addresses and significant token distributions.
Mystiko Network’s Second Airdrop and Governance Token
Mystiko Network’s second airdrop was designed to reward holders of the vXZK, the ERC-20 wrapped version of the XZK governance token. The distribution took place from June 30 to July 17, with on-chain data showing a substantial transfer of 20 million XZK tokens to 1,487 newly created addresses through Multisender. These new addresses reportedly received additional support from major exchanges shortly after the airdrop, leading to concerns of favoritism towards insiders.
Mystiko Network’s Response to Allegations
In response to the allegations, Mystiko Network promptly initiated an internal investigation to address the community’s concerns. The team confirmed the existence of the addresses in question and reviewed their transaction history, emphasizing that these addresses were early contributors to the ecosystem. This controversy follows a previous airdrop issue related to anti-Sybil measures, highlighting the importance of transparency and trust within the community.
