The anticipated Apriori airdrop (APR), a trading infrastructure startup backed by Changpeng Zhao’s YZi Labs, faces serious accusations of manipulation. On-chain data analyzed by independent researchers, such as user “NAGI” on X, suggest a coordinated event. Nearly 80% of the tokens distributed on the BNB Chain were claimed by thousands of newly created wallets. This event calls the fairness of the project’s distribution into question.
The “Genesis Airdrop” launched on October 23. Its goal was to reward early contributors and testnet users. It also included NFT holders from partner communities. However, analysis of the blockchain revealed very suspicious patterns. More than 5,800 linked wallets from a single centralized cluster claimed the vast majority of the funds. This pattern is characteristic of a large-scale Sybil attack.
Furthermore, the data shows this wallet cluster was created and funded days before the announcement. Specifically, the transactions occurred between October 19 and 20. This happened before Apriori published the eligibility criteria on October 22. The wallets received small amounts of BNB from only 13 source addresses. These funds were just to cover transaction fees, suggesting high coordination.
Was inside information used to manipulate the APR token distribution?
This pattern strongly suggests the attackers had prior knowledge. They knew the network and timing of the airdrop before the public. An analysis of the top 200 APR holders reinforced this theory. Almost all were newly created between October 5 and 6. They had no significant trading history. Only three wallets appeared to belong to real users. The rest showed identical behavior, indicating automated control.
The market reaction was immediate and severe. The APR token, which debuted with a $93 million market cap, plummeted quickly. It has lost more than 60% since its all-time high of $0.7396 on launch day. As of this writing, it trades at less than half its initial value. This collapse reflects a deep loss of investor confidence.
On the other hand, Apriori had generated positive expectations. The project raised a total of $30 million. It had support from high-profile investors like Pantera Capital, HashKey Capital, and YZi Labs. Its team includes former engineers from firms like Jump Trading and Coinbase. However, neither Apriori nor its founder, Ray Song, have responded to requests for comment on the analysis.
This event adds to a growing list of token distributions compromised by Sybil attacks. Recent cases like zkSync and Io.net demonstrate the sector’s vulnerability. Critics accuse the project of betraying its supporters. Therefore, the lack of transparency in the Apriori airdrop leaves serious doubts about fairness and accountability in new project allocations.
