As the hype around the Arbitrum (ARB) airdrop continues, on-chain activity shows airdrop hunters consolidated some $3.3 million worth of tokens collectively from 1,496 wallets into two wallets.
According to On blockchain analytics platform Lookonchain, a wallet received 1.4 million ARBs from 866 addresses. The account then added all received ARBs to the Uniswap decentralized exchange to provide liquidity. The 1.4 million ARB tokens are worth around $2 million at press time. On the other hand, another purse received 933,375 ARB of 630 addresses, with an approximate value of USD 1.38 million.
We found 2 super airdrop hunters of $ARB.
0xe1e2 received 1.4M $ARB($1.92M) via 866 addresses and added all 1.4M $ARB to #Uniswap to provide liquidity. https://t.co/sncsZTHrP2
0xbd4e received 933,375 $ARB($1.28M) via 630 addresses.https://t.co/p5vbqXMYxD pic.twitter.com/yK3LzbeC8t
— Lookonchain (@lookonchain) March 24, 2023
Although the analytics platform described the addresses as two “super airdrop hunters,” members of the community couldn’t help but formulate their own theories as to who was behind it.
Some they theorize that could be the work of members of the project team, while others They think it could be a hacker. Meanwhile, another community member believes that this may cause a significant drop in transaction volume.
While some sentiments were negative, others praised the efforts of so-called airdrop hunters, calling them names like “airdrop god”. Another believes that whoever is behind those addresses has spent a lot of time and capital cultivating the numbers.
The anticipation generated by the ARB airdrop also reached over-the-counter (OTC) markets. On March 21, airdrop-eligible cryptocurrency users they had already started selling the tokens on the OTC markets after the airdrop announcement.
Meanwhile, aside from the upstanding members of the community, hackers were also actively involved in the airdrop craze. On March 24, some hacked addresses of vanity wallets were used to steal USD 500,000 in ARB tokens from eligible airdrop participants.
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