LayerZero Labs Temporarily Suspended the Sybil Hunt Program
Date: 2024-05-20 Author: Gabriel Deangelo Categories: BUSINESS
LayerZero Labs CEO Brian Pellegrino announced the temporary suspension of the bounty hunting program aimed at identifying sybil attacks as part of the ZRO token distribution campaign. The project team was faced with a huge number of reports of potential violations, which required a review of current procedures.
Reasons for Suspension
Pellegrino noted that the initiative generated significant excitement among participants, leading to a massive influx of reports of sybil attack suspects. LayerZero Labs received thousands of reports, which made it difficult to process the data and required a temporary pause to make changes and improve the information ingestion structure.
Proposed Changes
One of Pellegrino's suggestions to simplify the process was to introduce a deposit of 0.02 ETH (roughly $60 at the time of writing) to submit the report. This change is aimed at reducing the number of unfounded reports and increasing the responsibility of participants when reporting violations.
Context and Background
LayerZero Labs previously announced a TGE (Token Generation Event) in the first half of 2024 and conducted the first snapshot of wallets. In anticipation of the airdrop, the team invited users to admit their misconduct. In exchange for being honest, participants could receive 15% of the ZRO tokens they claimed.
After the launch of the program, about 100,000 wallet owners admitted to violations. However, the list of suspects in sybil attacks turned out to be much longer. On the night of May 18, 2024, LayerZero Labs published a list of 803,093 addresses with suspicious activity.
Further Actions and Processing of Applications
Pellegrino suggested that users whose addresses were on the list of suspects fill out a special form for re-verification. Those who believe their address was incorrectly included in the list can provide evidence to show they were not involved in creating multiple accounts.
LayerZero Labs continues to work on improving the detection and reporting of sybil attacks. The temporary suspension of the program will allow the team to make the necessary changes and ensure a more efficient and fair distribution of ZRO tokens. Pellegrino assured that the team will do everything possible to stabilize the situation and restore the confidence of the participants.
