According to on-chain analytics platform BubbleMaps, a single user appears to have launched a Sybil attack against Fabric. $robo Airdrop delivered last month.
According to BubbleMaps, this single organization did this successfully by deploying over 7,000 newly created wallets prior to the drop, with total wallet revenue reaching approximately $8 million.
BubbleMaps discovers Sybil attack on Fabric airdrop
The Fabric Foundation, an OpenMind-powered project, has received $20 million in funding from top VCs including Coinbase and Pantera to build a network layer for robotics.
Token linked to project, $robo The token was launched on February 27th with 5% airdropped to the community. However, BubbleMaps reported that a single entity may have been able to abuse the system and walk away with approximately $8 million worth of tokens at the starting price.
The analytics platform claims that all wallets exhibited similar on-chain behavior. They raised funds through a similar route to the ETH they raised from seven exchanges about two months ago. These funds were tiered through multiple intermediary wallets before charges were incurred, confirming that this was planned and intentional.
The newly created wallet claimed a total of approximately $199 million $robo The tokens represent approximately 40% of the total allocated to the community.
“The consistent pattern of funding, timing, and movement from these wallets points to one entity sibilizing the airdrop,” Bubble Maps said. I wrote With X.
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BubbleMaps added a disclaimer stating that there is no evidence linking this entity’s activities to Fabric Protocol or the core team at Openmind.
How does Fabric respond to Sybil attacks?
BubbleMaps revealed that the Fabric team had no concrete connection to the gamified airdrop, but the reaction from community members was less positive.
In response to all the heat, one Fabric Foundation team member spoke up.
“First, Bubble Map’s research found no association between the highlighted clusters and the wallets of teams, foundations, or investors. We thank the Bubble Map team for highlighting this in their post and research,” team members wrote.
They went on to claim that Fabric’s airdrop incorporated multiple anti-Sybil signals, including real-world GPS/location restrictions and single-device participation, in addition to wallet and activity-based heuristics, which reportedly reduced Sybil activity but apparently did not completely eliminate it.
Team members also claimed that participation accelerated rapidly during the pre-TGE period (December-January).
“We observed strong organic airdrop participation in parallel with coordinated agricultural activities; this type of overlap is typical in open, large-scale participation systems,” they wrote. “Despite the presence of Sybil activity, we distributed rewards to tens of thousands of real users, as evidenced by both on-chain data and community feedback across social platforms.”
Fabric team members concluded their post by noting that they have taken this experience seriously and will continue to refine their approach.
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“Our roadmap remains unchanged and we remain focused on building a long-term network for the robot economy,” they said. I wrote. “We would like to thank Bubble Map for drawing attention to this issue and thank the community for their continued support.”
how $robo Has the token been completed since launch?
According to data from Coingecko, $robo The token is currently trading at $0.02548 with a 24-hour trading volume of over $351 million. The stock has been trading within a narrow range over the past day, gaining about 0.4% over the period.
$ROBO airdrop migrates to single entity”>
$robo The token has been trading in a narrow range near all-time lows for the past day. Source: Coin Gecko
Since its launch, the token has fallen 26% in lifetime trading. At the current price, the token is within 2% of its all-time low valuation of $0.02518, set on March 19th, and is down almost 58% from its highest valuation reached on March 2nd.
Cryptopolitan reported When BubbleMaps warned in December $pippin token. Citing its massive pump of around 1,000%, they called the token a ticking time bomb and argued it was not driven by clear metrics.
By March 17th, coordinated $pippin sale The tokens fell by around 50-60% at a time after whales dumped months of savings.
In the spirit of the proverb, “Different ships, different storms,” the Fabric Foundation and $pippin They are separate projects and the results of one will not affect the other.
