IRYS Airdrop Faces Scrutiny Over Sybil Attacks, $4 Million Transferred to Questionable Wallets!
Investigation into IRYS Airdrop: The IRYS airdrop is under investigation for potential Sybil wallet manipulation, with findings from Bubblemaps indicating that a coordinated network of wallets may have claimed a significant portion of the tokens unfairly.
Suspicious Wallet Activity: Approximately 900 new wallets funded by Bitget displayed similar patterns of behavior, claiming around 20% of the total IRYS supply immediately after the airdrop launch, raising concerns about the integrity of the distribution process.
$4 Million Movement: Bubblemaps reported that around $4 million worth of IRYS tokens were quickly transferred from these suspicious wallets to Bitget, although there is currently no evidence linking the IRYS team to these activities.
Historical Context and Community Response: This incident echoes previous cases of airdrop manipulation, prompting discussions within the crypto community about the need for stricter controls on token distributions to protect legitimate participants.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for ALT
Technical Sentiment Analysis for Altlayer (ALT). As of , Altlayer (ALT) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ALT stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, ALT is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Altlayer (ALT) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00433 | 0.00561 | 0.00703 | 0.00831 | 0.00973 | 0.011 | 0.0124 |
| Fibonacci | 0.00561 | 0.00665 | 0.00728 | 0.00831 | 0.00935 | 0.00998 | 0.011 |
About ALT
About the author
