The crypto universe reels as news emerges of an astoundingly complex Sybil attack executed on zkSync, a layer-2 scaling solution for Ethereum. The mastermind behind this venture used a methodically designed bot, autonomously facilitating transactions potent enough to give the perpetrator dominion over a shocking 21,877 wallets.
Through adding liquidity themselves, the individual could dance around potentially troublesome slippage issues granting them the opportunity to perform an array of transactions with astonishing efficiency and affordability. Their strategic approach to minimize costs was seen through their method of spending only $1.5 to $2 worth of ETH fees per wallet. The transactions were also spread out over different time frames – months, weeks, and days – a clever maneuver to mirror the behaviour of legitimate users to avoid suspicion.
Even with the intricate stratagem, some members of the crypto community managed to observe these activities. A vigilant netizen, Lingland 09, traced a substantial number of the counterfeit Sybil wallets out of the staggering 21,877 involved in this orchestration. Unfortunately, due to the limitations of zkScan Explorer, only a fraction of the false wallet profiles could be documented.
With the Matter Labs team, the forces behind zkSync, staying silent on the issue, the crypto community ardently appeals them to take steps to detect and identify all fraudulent Sybil wallets linked to this assault, largely through $gem token claim contract.
This is another instance that marks a rise in Sybil attacks in the crypto world, laying a substantial burden on airdrops. To exemplify this, attention has recently shifted towards the Connext Network suspected of experiencing a Sybil attack during their native token airdrop.
One particular wallet, created patently minutes before the NEXT airdrop, managed to bypass the defined ‘one-claim-per-wallet rule’ accumulating over 200 claims for itself via various wallets. It allegedly swiftly swapped NEXT tokens for tether and ether, accumulating about $38,000 in profits. Further, it managed to overload the airdrop’s user interface with an abundance of requests, leading to temporary downtime.
These incidents underline the significant threats looming over airdrops, and the crypto world at large. The sophistication and success of these attacks raise serious doubts and concerns about the security and integrity of this rapidly evolving technological space. Concrete measures should be in place to prevent such manipulative tactics, maintaining the overall health of crypto markets and reassuring their patrons.
Source: Cryptonews
