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

The Scroll’s SCR token airdrop via Binance has attracted over 1.6 million participants through the BNB and FDUSD liquidity pools.

Key Notes

The Scroll founder’s wallet has been accused of front-running users in the upcoming airdrop.The Scroll network is a major zK rollup on the Ethereum ecosystem with over $968 million in TVL.

Earlier this month, the Binance crypto exchange announced the launch of the 60th project dubbed Scroll (SCR) on its Launchpool platform. The distribution of SCR tokens via Binance farming and other means of fair distribution has attracted significant attention. Notably, over 18 million BNBs BNB $599.7 24h volatility: 1.6% Market cap: $87.53 B Vol. 24h: $629.46 M were locked by more than 1.56 million Binance users on the BNB pool to farm the Scroll tokens.

In the FDUSD pool, more than $2.29 billion was locked by nearly 83k participants to farm the SCR tokens. As a result, the Scroll token airdrop remains one of the most anticipated in the recent past.

Meanwhile, the Binance exchange has revealed plans to SCR token with the Bitcoin BTC $68 557 24h volatility: 2.4% Market cap: $1.36 T Vol. 24h: $38.28 B and USDT USDT $1.00 24h volatility: 0.2% Market cap: $120.09 B Vol. 24h: $34.08 B trading pairs on its spot platform after concluding the pre-market trading period by October 21.

Scandals in the Scroll Token Airdrop Uncovered

According to on-chain sleuth alias Andrew 10 Gwei, the Scroll core team has been awarding SCR token airdrops to their wallets in the recent past. The on-chain sleuth highlighted that some of the Scroll founder’s wallets have received between 10k to 1 million marks, which are directly tied to the SCR token airdrop.

“Most of the wallets in this top with 200k+ marks are project wallets: L0, Orbiter, Rhino, Owlto, Relay, and others. These are the wallets that are needed to run their bridge contracts etc. (As I understand it) and with tens and hundreds of thousands of transactions,” Andrew noted.

While the SCR token airdrop has not yet taken place, the chances of the founders’ wallets receiving a major stake remain high.

I address it to the @Scroll_ZKP team @sandyzkp @shenhaichen – You have a unique chance to do the right thing, exclude project and team wallets from airdrop and make Scroll Airdrop at least not the worst and minimize FUD

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

The Scroll founder’s team led by Sandy and Haichen Shen has been put under the spotlight for attempting to cheat the community through the upcoming airdrop. Furthermore, the launch of the SCR token airdrop was meant to enhance the protocol’s decentralization by giving users governance powers.

As Coinspeaker previously explained, the SCR token will have a total supply of 1 billion, with 15 percent reserved for the airdrop. The Scroll contributors received a total of 23 percent of SCR tokens, and 17 percent reserved for the Scroll investors. The remaining 35 percent and 10 percent were allocated to Scroll’s ecosystem growth and the Scroll Foundation respectively.

Market Picture

Last year, Scroll raised $50 million from several investors led by Polychain Capital, Sequoia China, Bain Capital Crypto, Moore Capital Management, Variant Fund, and Newman Capital, among others. The company promised to deliver a seamless zero-knowledge rollup on the Ethereum network.

As of this writing, the Scroll network has a total value locked of about $968 million and a stablecoins market cap of about $140 million. Some of the top DeFi projects on the Scroll network include Pencils protocol, AAVE V3, and Tokan Exchange, among others.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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