Scroll Founder’s Wallets with Over 1M Marks Accused of Manipulating SCR Token Airdrop

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As a seasoned crypto investor with over a decade of experience in this dynamic market, I must admit that the recent developments surrounding Scroll (SCR) have caught my attention. The massive participation from Binance users in farming for SCR tokens is a testament to the project’s potential and the growing interest in decentralized finance (DeFi).

This month, Binance crypto exchange unveiled its 60th project called Scroll (SCR) via Launchpool. The distribution of SCR tokens through Binance farming and other fair distribution methods has garnered substantial interest. Intriguingly, over 1.56 million Binance users locked approximately 18 million BNBs, currently worth around $595.6 each, in the BNB pool to farm Scroll tokens.

Over 83,000 individuals collectively deposited over $2.29 billion into the FDUSD pool for the purpose of earning SCR tokens. This event has generated significant excitement, making the upcoming Scroll token airdrop one of the most eagerly awaited in recent memory.

Simultaneously, Binance has disclosed intentions to introduce the SCR token for trading against both Bitcoin (BTC at $68,253 with a 0.2% 24h volatility and a market cap of $1.35T, and 24h volume of $13.69B) and USDT ($1.00, 0.1% 24h volatility, $120.13B market cap, and 24h volume of $22.76B) on its spot trading platform following the conclusion of the pre-market trading period by October 21.

Scandals in the Scroll Token Airdrop Uncovered

Based on findings by online investigator known as Andrew 10 Gwei, it appears that members of the Scroll core team have been granted SCR tokens through airdrops in recent times. Notably, some wallets linked to Scroll’s founders received anywhere from 10,000 to 1 million units, all of which are connected directly to the SCR token airdrop distribution.

Andrew pointed out that a majority of the wallets on this top list, which have over 200,000 marks, are project wallets such as L0, Orbiter, Rhino, Owlto, Relay, and more. These specific wallets appear to be essential for managing their bridge contracts and other operations, given the high volume of transactions they handle, ranging from tens to hundreds of thousands.

Although the SCR token distribution (airdrop) hasn’t happened yet, it’s likely that the founders will hold a significant portion of the tokens in their wallets.

Dear Scroll_ZKP team, particularly SandyZKP and ShenHaichen, you’ve been given an exceptional opportunity to act ethically. By excluding project and team wallets from the airdrop, you can make the Scroll Airdrop at least not detrimental and help reduce FUD (Fear, Uncertainty, Doubt).

— Andrew 10 GWEI (@Andrey_10gwei) October 17, 2024

The team behind Scroll, headed by Sandy and Haichen Shen, has recently attracted attention due to allegations of attempting to deceive the community regarding the upcoming airdrop. However, it’s important to note that the launch of the SCR token airdrop was intended to promote the protocol’s decentralization, empowering users with governance rights.

Previously mentioned by Coinspeaker, the SCR token boasts a total circulation of one billion units. Out of this amount, 15% is earmarked for an airdrop. The contributors behind Scroll have been awarded a combined share of 23% of the SCR tokens. Furthermore, 17% has been reserved for potential investors in Scroll. The remaining percentage points, namely 35%, are destined for fostering Scroll’s ecosystem growth, while 10% will be allocated to the Scroll Foundation.

Market Picture

In the previous year, Scroll managed to secure $50 million in funding from various investors, with Polychain Capital, Sequoia China, Bain Capital Crypto, Moore Capital Management, Variant Fund, and Newman Capital taking the lead. They pledged to provide a smooth, zero-knowledge rollup on the Ethereum network as part of their commitment.

Currently, the Scroll network boasts approximately $968 million in total value locked, along with a stablecoins market capitalization of around $140 million. Notable DeFi projects on this network include Pencils protocol, Aave V3, and Tokan Exchange, among others.

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2024-10-20 16:30