Bubblemaps CEO Nick Vaiman said Sybil attacks are increasing across presales and airdrops, calling on teams to use KYC or algorithmic detection.
A Solana presale event encountered distribution issues after a bot farm reportedly used over 1,000 wallets to snipe nearly the entire Wet (WET) token sale in seconds.
Hosted through the decentralized exchange aggregator Jupiter, the presale sold out almost instantly. But genuine buyers effectively had no chance to participate because a single actor dominated the presale, according to organizers.
Solana automated market maker (AMM) HumidiFi, the team behind the presale, confirmed the attack and scrapped the launch entirely. The team said it would create a new token and hold an airdrop to legitimate participants while explicitly excluding the sniper.