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Solana WET presale hijacked by Sybil wallets as HumidiFi resets launch

Cointelegraph
HumidiFi reset the Solana WET token presale after Sybil wallets allegedly sniped nearly the entire sale via Jupiter.

Summary

The presale for the Wet (WET) token on Solana, hosted via the decentralized exchange aggregator Jupiter, was instantly sold out by what organizers claim was a bot farm using over 1,000 Sybil wallets. HumidiFi, the team behind the presale, confirmed the attack and decided to scrap the launch entirely. They announced they are creating a new token and will conduct a pro-rata airdrop to legitimate participants, specifically excluding the sniper wallets, with a new public sale scheduled for Monday.

Blockchain analytics platform Bubblemaps identified the alleged attacker, noting that at least 1,100 of the 1,530 participating wallets showed identical funding and activity patterns, all being funded by a handful of wallets with similar USDC amounts shortly before the sale. Bubblemaps CEO Nick Vaiman stated that behavioral similarities pointed to a single entity, and a cluster link led to the Twitter handle “Ramarxyz,” who subsequently requested a refund.

Vaiman emphasized that Sybil attacks are a growing security threat in token launches, urging projects to implement KYC measures, use detection algorithms, or manually review participants to prevent such incidents.

(Source:Cointelegraph)