The post 400 Million IRYS Airdrop Faces Scam Allegation appeared on BitcoinEthereumNews.com. Irys, a layer-1 blockchain listed on major exchanges including Coinbase, is under scrutiny after a single entity captured roughly 20% of its airdrop allocation. On November 28, blockchain analytics firm Bubblemaps said it identified about 900 wallets involved in the process. Sponsored IRYS Slides After 900 Linked Wallets Take $4 Million in Airdrop Tokens According to the firm, these addresses showed no prior on-chain activity. It described the pattern as consistent with coordinated preparation rather than organic network participation. Following the distribution, the cluster network began consolidating the assets. Data shows that roughly 500 of the identified wallets transferred their IRYS allocations to intermediary addresses before routing the funds to Bitget, a centralized exchange. IRYS Token Address Clusters. Source: BubbleMaps The flow of tokens, valued at approximately $4 million, indicates a likely preparation to liquidate the position. Such a move could introduce significant sell-side pressure on the asset’s order book. Sponsored IRYS price has come under pressure following the disclosures. The token has declined 16% over the past 24 hours and is trading near $0.032 as of press time. Bubblemaps noted that it found no on-chain evidence linking the IRYS team to the wallet cluster. Irys markets itself as an “on-chain AWS” designed for data storage and smart-contract execution. The protocol has raised more than $13 million from venture capital investors and listed its token this week on major exchanges, including Binance and Coinbase. Airdrop Farmers are very bad for this space. > Someone claimed 20% of the IRYS airdrop > 60% of aPriori airdrop was claimed by one entity via 14,000 addresses > One entity claimed $170M from the MYX airdrop with 100 freshly funded wallets > One entity claimed $4M from the… pic.twitter.com/WvN5D7qlU6 — Crypto with Khan ( SFZ ) (@Cryptowithkhan) November 29, 2025 Sponsored Crypto Needs Stronger… The post 400 Million IRYS Airdrop Faces Scam Allegation appeared on BitcoinEthereumNews.com. Irys, a layer-1 blockchain listed on major exchanges including Coinbase, is under scrutiny after a single entity captured roughly 20% of its airdrop allocation. On November 28, blockchain analytics firm Bubblemaps said it identified about 900 wallets involved in the process. Sponsored IRYS Slides After 900 Linked Wallets Take $4 Million in Airdrop Tokens According to the firm, these addresses showed no prior on-chain activity. It described the pattern as consistent with coordinated preparation rather than organic network participation. Following the distribution, the cluster network began consolidating the assets. Data shows that roughly 500 of the identified wallets transferred their IRYS allocations to intermediary addresses before routing the funds to Bitget, a centralized exchange. IRYS Token Address Clusters. Source: BubbleMaps The flow of tokens, valued at approximately $4 million, indicates a likely preparation to liquidate the position. Such a move could introduce significant sell-side pressure on the asset’s order book. Sponsored IRYS price has come under pressure following the disclosures. The token has declined 16% over the past 24 hours and is trading near $0.032 as of press time. Bubblemaps noted that it found no on-chain evidence linking the IRYS team to the wallet cluster. Irys markets itself as an “on-chain AWS” designed for data storage and smart-contract execution. The protocol has raised more than $13 million from venture capital investors and listed its token this week on major exchanges, including Binance and Coinbase. Airdrop Farmers are very bad for this space. > Someone claimed 20% of the IRYS airdrop > 60% of aPriori airdrop was claimed by one entity via 14,000 addresses > One entity claimed $170M from the MYX airdrop with 100 freshly funded wallets > One entity claimed $4M from the… pic.twitter.com/WvN5D7qlU6 — Crypto with Khan ( SFZ ) (@Cryptowithkhan) November 29, 2025 Sponsored Crypto Needs Stronger…

400 Million IRYS Airdrop Faces Scam Allegation

2025/11/30 02:29

Irys, a layer-1 blockchain listed on major exchanges including Coinbase, is under scrutiny after a single entity captured roughly 20% of its airdrop allocation.

On November 28, blockchain analytics firm Bubblemaps said it identified about 900 wallets involved in the process.

Sponsored

IRYS Slides After 900 Linked Wallets Take $4 Million in Airdrop Tokens

According to the firm, these addresses showed no prior on-chain activity. It described the pattern as consistent with coordinated preparation rather than organic network participation.

Following the distribution, the cluster network began consolidating the assets.

Data shows that roughly 500 of the identified wallets transferred their IRYS allocations to intermediary addresses before routing the funds to Bitget, a centralized exchange.

IRYS Token Address Clusters. Source: BubbleMaps

The flow of tokens, valued at approximately $4 million, indicates a likely preparation to liquidate the position. Such a move could introduce significant sell-side pressure on the asset’s order book.

Sponsored

IRYS price has come under pressure following the disclosures. The token has declined 16% over the past 24 hours and is trading near $0.032 as of press time.

Bubblemaps noted that it found no on-chain evidence linking the IRYS team to the wallet cluster.

Irys markets itself as an “on-chain AWS” designed for data storage and smart-contract execution.

The protocol has raised more than $13 million from venture capital investors and listed its token this week on major exchanges, including Binance and Coinbase.

Sponsored

Crypto Needs Stronger Sybil Protection

The episode highlights a structural challenge facing crypto projects that rely on airdrops to expand ownership.

Indeed, Irys allocated 8% of its total supply to the event. The goal was to distribute tokens to early users and help decentralize the network.

Instead, the concentration of tokens in a single cluster shows how airdrops remain vulnerable to actors using large batches of script-generated wallets to capture outsized allocations.

Sponsored

When one entity controls 20% of the initial circulating float, market observers say the result is heightened centralization risk and distorted price discovery.

Meanwhile, incidents like this point to broader limitations in token distribution practices across permissionless ecosystems. These environments have minimal identity checks and unrestricted network access.

This IRYS episode shows how difficult it is to prevent coordinated airdrop capture without stronger filtering, better identity heuristics, or more robust pre-distribution reviews.

Without those safeguards, early liquidity events can disproportionately benefit short-term actors. That dynamic can weaken outcomes for long-term holders and overall network stability.

Source: https://beincrypto.com/irys-airdrop-scam-allegation/

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Soluna Holdings Announces $32 Million Equity Offering

Soluna Holdings Announces $32 Million Equity Offering

The post Soluna Holdings Announces $32 Million Equity Offering appeared on BitcoinEthereumNews.com. Key Points: Soluna Holdings initiates $32 million offering for Bitcoin and AI projects. Funds targeted at expanding Bitcoin mining infrastructure. Soluna positions itself at the intersection of renewable energy and computing power. Soluna Holdings announced a $32 million registered direct offering, involving the issuance of 18,079,144 shares and Series C warrants at $1.77 each, as per Nasdaq regulations. This funding supports Bitcoin mining and AI infrastructure, potentially impacting related markets by expanding Soluna’s renewable energy-driven computing capacity. Equity Offering Fuels Bitcoin and AI Growth Soluna Holdings has entered into definitive agreements to issue 18,079,144 shares and Series C warrants at $1.77 per share. The $32 million raised will be directed at enhancing Bitcoin mining capabilities and advancing artificial intelligence initiatives, emphasizing Soluna’s strategic positioning in green energy sectors. “We strategically co-locate our data centers with renewable power sources to support Bitcoin mining, generative AI, and other compute-intensive applications.” – Soluna Press Release Bitcoin Market Faces Volatility Amid Funding News Did you know? Soluna’s funding strategy mirrors trends seen in other data-center companies supporting cryptos and AI, highlighting a shift towards sustainable tech infrastructure. Bitcoin (BTC) currently trades at $89,257.47 with a market cap of approximately $1.78 trillion. Recent declines include a -2.79% drop over the past 24 hours, according to CoinMarketCap. Bitcoin(BTC), daily chart, screenshot on CoinMarketCap at 00:01 UTC on December 7, 2025. Source: CoinMarketCap Insights from the Coincu research team suggest that Soluna’s strategy may catalyze further investments in technology that thrives on renewable energy, reinforcing its practical application in cryptocurrency and AI sectors. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. Source: https://coincu.com/bitcoin/soluna-holdings-raises-32-million/
Share
BitcoinEthereumNews2025/12/07 08:08
The Psychology Behind Why People Stay, Leave, Or Tune Out At Work

The Psychology Behind Why People Stay, Leave, Or Tune Out At Work

The post The Psychology Behind Why People Stay, Leave, Or Tune Out At Work appeared on BitcoinEthereumNews.com. The Psychology Behind Why People Stay, Leave, Or Tune Out At Work getty Leaders spend a lot of time wondering why some employees stay loyal, why others leave quickly, and why so many slip into disengagement long before they walk out the door. People often assume the main reason employees leave is pay or promotion. Those things matter, but they only scratch the surface. The bigger explanation is based in psychology. Employees make decisions based on how they feel, what they fear, what they assume, and whether their daily experiences reinforce a sense of meaning and connection. That is the part leaders overlook. The clues are always there, but they are often hidden in everyday interactions that seem small and routine. What Does The Psychology Of Daily Work Reveal About Why People Stay? getty What Does The Psychology Of Daily Work Reveal About Why People Stay? People stay in workplaces where they feel understood. Any organization can offer flexibility or better benefits, but those are not what keep people committed long term. Employees stay when they believe their voice matters, when support feels steady instead of controlling, and when their manager shows genuine interest in how they experience the workday. Microsoft’s Satya Nadella has talked about this often. He highlights how people perform at a higher level when leaders approach conversations with a learning mindset instead of an answer mindset. That shift changes the tone of the relationship. When employees sense curiosity from leaders, it lowers defensiveness, builds trust, and strengthens commitment. Curiosity also signals interest, and interest signals value. When people feel valued, they stay. When they do not, they begin to explore other options. This is why the tone of daily interactions matters so much. A single moment where someone feels dismissed can outweigh months of positive intentions.…
Share
BitcoinEthereumNews2025/12/07 07:45