Attack Alert: The $STRK Airdrop Attack
During Starknet's highly anticipated airdrop event on February 20th, a malicious actor executed a major Sybil attack, exploiting the system and causing a significant setback.
Using 1,361 wallets, the attacker cleverly manipulated the system to claim distributed tokens, sending them into a single address and stealing 1,432,800 $STRK tokens valued at around $3 million.
In a surprising development, another individual received 1.22 million STRK tokens worth $2.4 million through 1,800 wallets, bringing the total stolen amount to $5.4 million.
These Sybil attacks have had a broader impact on the market, resulting in substantial volatility in the price of Starknet's token, which has declined by over 67% to $1.71 since the attack occurred.
The news credit goes to CoinPedia
