2024

Mystiko Network

April

<ul>
 <li><strong>Mystiko Network faces insider trading accusations during the second airdrop.</strong></li>
 <li><strong>1,487 new addresses received unusual airdrop token amounts.</strong></li>
</ul>
<p>Speculation has surged on social media, accusing Mystiko Network of significant insider trading during its second airdrop. On July 5 at 16:22 UTC, the official Mystiko-Vault Community Incentives account (0xBc…25d6) distributed 20 million XZK tokens to 1,487 newly created addresses via the Multisender app. Notably, these addresses <a href="https://x.com/defioasis/status/1816428550993629521" rel="noopener noreferrer nofollow">received</a> gas from <a href="https://thenewscrypto.com/okx-hit-by-major-outflows-amid-security-breach-rumors/" target="_blank" rel="noopener noreferrer nofollow">OKX</a> or Bybit a day after obtaining XZK, and the number of airdrop tokens they received was higher than that of typical users.</p>
<p>Mystiko Network, known for its privacy-preserving blockchain solutions, secured $18 million in financing led by Sequoia India in March 2024.&nbsp;</p>
<p>Responding to a prominent reporter, Mystiko dismissed the accusations as baseless, emphasizing the transparency of blockchain technology. “A one-minute search can prove this claim unsubstantiated,” they stated. The network defended the allocation of part of the airdrop for active network users, asserting that all eligible wallets had verifiable transactions on the public <a href="https://thenewscrypto.com/toyota-aims-to-enhance-mobility-with-ethereum-blockchain-integration/" target="_blank" rel="noopener noreferrer nofollow">blockchain</a>.</p>
<p>However, a community member <a href="https://x.com/defioasis/status/1816400603188498862" target="_blank" rel="noopener noreferrer nofollow">challenged</a> this explanation, highlighting the suspicious outflow to the 1,487 addresses, which allegedly exhibited the same behavioral pattern since April 2023. “Please explain the outflow from Mystiko-Vault Community Incentives: 0xBc..25d6 to 1,487 addresses. You made a batch of internal addresses back in April 2023, all with the same behavioral pattern, and now you’re bringing them back out and continuing to use them. Don’t kid yourself,” the community member stated.</p>
<h3 class="wp-block-heading" id="h-mystiko-response">Mystiko Response</h3>
<p>In response, Mystiko reiterated their commitment to transparency and community trust. The network confirmed that the addresses met early contributor criteria and had numerous transactions.</p>
<div align="center">
 <blockquote class="twitter-tweet">
  <p lang="en" dir="ltr">At Mystiko Network, transparency and community trust are paramount. We were recently made aware of allegations regarding certain transactions involving our tokens. Here's our response:<br><br>1. Mystiko was alerted to these allegations and immediately launched an internal…</p>— Mystiko.Network (@MystikoNetwork) <a href="https://twitter.com/MystikoNetwork/status/1816382369995366427?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 25, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div>
<p>“At Mystiko Network, transparency and community trust are paramount.“We recently became aware of allegations regarding certain transactions involving our tokens.” Here’s our response: Mystiko was alerted to these allegations and immediately launched an internal investigation. Our investigation confirmed the existence of the addresses in question and their transaction history.&nbsp;</p>
<p>These addresses appear to be aligned with criteria established for early contributors to our ecosystem, with multiple transactions within the network. We firmly believe in rewarding early contributors and upholding the principles of fairness in decentralized finance. “Moving forward, we will enhance transparency and governance to better serve our community,” Mystiko stated.</p>
<p><strong>Highlighted News Of The Day</strong></p>
<p><a href="https://thenewscrypto.com/india-to-unveil-crypto-policy-discussion-paper-by-september/" rel="noopener noreferrer nofollow">India to Unveil Crypto Policy Discussion Paper by September</a></p>

Mystiko Network Faces Insider Trading Allegations Amid Airdrop

Indice dei contenuti

TheNewsCrypto

Altri articoli pubblicati su 25 lug 2024

Bybit Becomes Second Largest in Crypto Derivatives Market

UK Regulator Penalizes Coinbase with £3.5M Fine

Cryptocurrencies Experience Sharp Declines

BREAKING: BlackRock CEO Talks About Staking Feature in Ethereum ETFs

XRP Witnesses 10% Drop in Reserves on Major Exchange: What Happened?

Why Did Bitcoin and the Cryptocurrency Market Fall Today? Here are the Explanations of Experts

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!