LayerZero CEO confirms 100,000 wallets self-report Sybil activity

Bryan Pellegrino, CEO of LayerZero Labs, announced that up to 100,000 wallets self-reported their Sybil behavior. According to Pellegrino, this data collection will be considerably valuable in identifying participants using similar methods and software for fraudulent activities in the future.

“My intuition is that a confirmed data set of 100,000+ is going to be extremely powerful in finding others either using same software or similar methodologies. Can’t wait to see what it yields,” he stated, adding that those who haven’t self-reported should disclose their activity.

The update comes after the project said it would give Sybil airdrop farmers a chance to self-report by May 17. According to the team, users who voluntarily disclose their Sybil activity will get 15% of the initial airdrop tokens. However, those who fail to self-report and are later identified will be excluded from token allocation.

In addition, LayerZero has entered into strategic partnerships with Nansen, a leading analytics firm, and Chaos Labs, a prominent security company. The goal is to analyze transactions across LayerZero applications and prioritize the support of developers and committed users. The comprehensive report on Sybil detection is expected to be released after the self-reporting deadline.

While self-reporting has reached a large scale, some users remain skeptical. A user named Moriarty has openly doubted LayerZero’s detection capabilities, taunting the company and urging Pellegrino to find his 25,000 hidden Sybil wallets.

Pellegrino said it was a war between good and evil and told Moriarty to wait for the final results. He previously noted that only 400,000 to 600,000 out of 6 million user accounts were real.

Eternal battle of good vs evil. Let’s see how we do! pic.twitter.com/9Wep38ZI3c

— Bryan Pellegrino (臭企鹅) (@PrimordialAA) May 13, 2024

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