Before the free distribution of its cryptocurrency, the Optimism project conducted an operation to identify the addresses involved in the Sibyl attack and removed them from the distribution list.
Ethereum Scaling Layer 2 Solution Team Optimism May 23 informed on Twitter, which removed 17,000 cryptocurrency wallets from the lists of those who registered for a free cryptocurrency giveaway:
“Optimism is for the people, not for the Sibyl (a spam attack that floods the network with fake accounts. – Bits.media). We carefully analyzed the first free distribution of cryptocurrencies and identified scammers. We’re happy to announce that we’ve removed 17k more cybil addresses and recovered over 14M OPs. Goodbye, Sybils!
Fraudsters, having received insider information that the project is going to conduct a free distribution of cryptocurrencies in the future, like to create many cryptocurrency wallets for the project. Thus, a large amount of freely distributed cryptocurrency falls into the hands of criminals.
The developers of Optimism announced that the cryptocurrencies that were planned to be sent to blocked wallets will be redistributed among the remaining addresses. The team said that they carried out a thorough check of addresses through special filters and thanked everyone who helped identify scammers’ addresses. In addition, the project published a list of deleted addresses and encouraged users to report any information about a potential Sibyl attack.
The most notorious instance of such a spam attack occurred when Divergence Ventures used multiple addresses, receiving the maximum amount of free cryptocurrency during the Ribbon Finance draw, in which they had previously invested. The scam helped Divergence Ventures earn $3.2 million worth of cryptocurrencies, but the project later returned the money when the scam was discovered.
Optimism announced the free distribution of cryptocurrencies on April 26. It was planned to participate in the distribution of 250,000 wallets. The developers were going to give away 5% of the total cryptocurrency, and another 14% were intended for future draws. The rest of the assets were planned to be distributed among the ecosystem fund, public goods financing, main contributors and private investors.
Last week, the largest cryptocurrency trading platform Binance announced the completion of work on the integration of a second-level solution for the Optimism Ethereum network.