HomeUncategorized‘Infected by fraud’ — Projects claim CoinMarketCap airdrops were gamed By Cointelegraph

‘Infected by fraud’ — Projects claim CoinMarketCap airdrops were gamed By Cointelegraph

January 10, 2023

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Two crypto projects have cried foul play over promotional airdrops conducted by CoinMarketCap (CMC) on their behalf, which they allege was “gamed” for the benefit of a small group of exploiters.

These promotional airdrops — designed to be distributed to thousands of wallets to raise awareness of a crypto project — ended with the tokens funneling to just a handful of wallets, suggesting potential manipulation of the system.

SATT token drop

SaTT claims wallet 0x929… (pictured) has over 4,500 transactions of its token, the largest it found out of the 21. Blockchain data shows the wallet sold over 4.3 million tokens through PancakeSwap. BscScan

TokenBot token drop

Blockchain data shows thousands of TKB transactions flowing to wallet 0x5AF… before initiating a cross-chain swap and then selling its holdings. BscScan.
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