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zkSync Era has recently emerged as the top Layer 2 solution regarding transaction volume, but its recent achievements seem to be closely linked to opportunistic airdrop hunters aiming to benefit from the highly anticipated zkSync token. Nevertheless, an unusual occurrence on the network has sparked interest and concern within the crypto community.
Numerous airdrop hunters are known to utilize multiple wallets to enhance their chances of obtaining additional tokens during airdrop events. This approach is not unusual and is frequently regarded as a valid tactic within the crypto sector. However, on September 10th, Lingland, a community manager at DeFi Land, an NFT game, pointed out a surprising anomaly on zkSync Era.
Lingland highlighted an astonishing 21,877 wallets linked to a single entity exhibiting atypical behavior on zkSync Era. On-chain data indicated that this user was distributing GEM, a closed-source token, to accounts funded with minimal amounts of ETH. What distinguished this activity was the establishment of a closed decentralized exchange, solely utilized for trading tokens among these wallets.
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In Lingland’s words, “He created a non-open sourced DEX for himself [to execute] transactions between his wallets indirectly.” This conduct surpasses the standard airdrop hunting strategy and is classified as a Sybil attack, where one entity manipulates the network by controlling numerous identities or nodes.
Despite zkSync Era’s remarkable performance, averaging 11.1 transactions per second (TPS) over the last 24 hours, as reported by L2beat, concerns arise regarding the legitimacy of this activity. It is noteworthy that zkSync Era’s 30-day throughput of 29.6 million transactions is only slightly behind the Ethereum mainnet’s 30.2 million. However, the prevalence of airdrop speculators casts doubt on the organic nature of these transactions on the Layer 2 solution.
In terms of total value locked (TVL), zkSync Era currently holds the third position among Layer 2 solutions with a TVL of $399 million. This amount signifies a considerable drop from its early July peak of nearly $736 million. zkSync Era trails behind established competitors like Arbitrum with a TVL of $5 billion and Optimism with $2.4 billion.
As zkSync Era continues to develop and gain traction within the crypto ecosystem, the presence of opportunistic airdrop hunters and Sybil attacks highlights the challenges faced by emerging Layer 2 solutions in preserving the integrity and authenticity of their ecosystems. It remains to be seen how zkSync Era will tackle and mitigate such activities while working to establish itself as a dependable and sustainable Layer 2 platform.
The post Unusual Activity on zkSync Era: Airdrop Hunters and Sybil Attacks appeared first on BitcoinWorld.
