What is IRYS? 2026 Price Prediction & Investment Guide

IRYS airdrop under investigation for Sybil wallet manipulation and suspicious activity. Bubblemaps uncovers $4M movement linked to suspicious wallets in IRYS airdrop. Sybil attack allegations threaten fairness of IRYS token distribution process. The IRYS airdrop, one of the most talked-about token launches this month, is now facing serious scrutiny after a deep dive by on-chain analytics platform Bubblemaps. The platform uncovered signs that a significant portion of the airdrop might have been claimed by a coordinated network of Sybil wallets. According to their findings, suspicious activity around the launch raised alarms about the fairness of the distribution process. Bubblemaps reported that unusual wallet activity began just one day before the airdrop went live. They discovered that approximately 900 new wallets were funded by the crypto exchange Bitget within a very tight time frame. These wallets showed strikingly similar patterns: no prior on-chain history, nearly identical ETH deposits, and immediate claims of the IRYS tokens as soon as the airdrop was launched. This group of wallets alone claimed around 20% of the total IRYS supply, raising concerns about potential manipulation. Also Read: XRP Set for Explosive 10x Rally? Analyst Reveals Shocking 2017 Pattern Repeating! $4 Million in Tokens Sent to Bitget Amid Suspicious Patterns In an even more alarming development, Bubblemaps revealed that 500 wallets tied to these suspicious clusters quickly moved their IRYS tokens to fresh wallets and then transferred them to Bitget. As of now, approximately $4 million worth of IRYS tokens has already been sent to the exchange. However, Bubblemaps emphasized that there is still no evidence linking the IRYS team to these wallets. The investigation continues, with the platform’s Intel Desk open for community involvement. Someone claimed 20% of the $IRYS airdrop Using a cluster of 900 identical wallets funded just before launch $4M already sold pic.twitter.com/Xas2AjZoxn — Bubblemaps (@bubblemaps) November 28, 2025 Additionally, the platform found that between November 21 and 24, Bitget funded 20 separate batches of ETH to around 50 wallets each. These wallets displayed the same suspicious behavior, further deepening the concerns about Sybil farming tactics potentially skewing the airdrop distribution. Airdrop Manipulation Echoes a Previous Incident with aPriori Tokens This new controversy surrounding IRYS isn’t the first instance of suspected Sybil attacks during airdrops. Bubblemaps previously uncovered similar tactics with the aPriori (APR) airdrop. In that case, around 60% of APR tokens were claimed by a single group using 14,000 connected wallets. This raised alarms over how such coordinated efforts can drain airdrop supplies, leaving legitimate participants at a disadvantage. The growing scrutiny of the IRYS airdrop has spurred discussions in the crypto community about the need for tighter controls on airdrop distributions to prevent such manipulation. As the investigation continues, it remains to be seen what impact these revelations will have on the IRYS project and its future token distribution plans. Also Read: Altcoin Market Faces $1.8 Billion Surge in Tokens This December The post IRYS Airdrop Under Investigation for Sybil Attacks, $4M Sent to Suspicious Wallets! appeared first on 36Crypto.

The post IRYS Airdrop Hit by Manipulation Claims appeared on BitcoinEthereumNews.com. 900 new Bitget-funded wallets claimed 20% of the IRYS airdrop. Users appreciate the airdrop but worry about growing manipulation claims. aPriori faced a large Sybil attack involving thousands of connected wallets. The IRYS airdrop, one of the most talked-about token launches this month, is now under scrutiny after on-chain analytics platform Bubblemaps published findings hinting that a large portion of the distribution may have been claimed by coordinated Sybil wallets.  They also shared new data showing that for 38 past tokens with major wallet clustering issues, more than half of the project teams listed the United States as their location, followed by Europe and India.  Unusual Wallet Activity Before Launch According to Bubblemaps, suspicious activity began one day before the IRYS airdrop went live. The platform reported that 900 new wallets were funded by crypto exchange Bitget within tight time windows. Each wallet showed the same three traits: No previous on-chain history Received nearly identical amounts of ETH Claimed the IRYS airdrop immediately at launch This cluster alone reportedly claimed around 20% of the entire airdrop supply. Bubblemaps also identified 20 separate funding batches, each sending ETH to about 50 wallets between November 21 and 24. All of these wallets displayed the same behavior pattern. Related: Key Token Unlocks To Watch For In December, List Unveiled Tokens Moved and Sent to Bitget Bubblemaps found that about 500 wallets linked to the suspicious clusters moved all their IRYS tokens to fresh wallets and then sent them to Bitget.  Around $4 million worth of tokens has already reached the exchange, but Bubblemaps says there is still no evidence connecting the IRYS team to these wallets. The investigation is ongoing through Bubblemaps’ Intel Desk, where the community can vote to bring the case more attention. Community members have also reacted to the latest…

The post 400 Million IRYS Airdrop Faces Scam Allegation appeared on BitcoinEthereumNews.com. Irys, a layer-1 blockchain listed on major exchanges including Coinbase, is under scrutiny after a single entity captured roughly 20% of its airdrop allocation. On November 28, blockchain analytics firm Bubblemaps said it identified about 900 wallets involved in the process. Sponsored IRYS Slides After 900 Linked Wallets Take $4 Million in Airdrop Tokens According to the firm, these addresses showed no prior on-chain activity. It described the pattern as consistent with coordinated preparation rather than organic network participation. Following the distribution, the cluster network began consolidating the assets. Data shows that roughly 500 of the identified wallets transferred their IRYS allocations to intermediary addresses before routing the funds to Bitget, a centralized exchange. IRYS Token Address Clusters. Source: BubbleMaps The flow of tokens, valued at approximately $4 million, indicates a likely preparation to liquidate the position. Such a move could introduce significant sell-side pressure on the asset’s order book. Sponsored IRYS price has come under pressure following the disclosures. The token has declined 16% over the past 24 hours and is trading near $0.032 as of press time. Bubblemaps noted that it found no on-chain evidence linking the IRYS team to the wallet cluster. Irys markets itself as an “on-chain AWS” designed for data storage and smart-contract execution. The protocol has raised more than $13 million from venture capital investors and listed its token this week on major exchanges, including Binance and Coinbase. Airdrop Farmers are very bad for this space. > Someone claimed 20% of the IRYS airdrop > 60% of aPriori airdrop was claimed by one entity via 14,000 addresses > One entity claimed $170M from the MYX airdrop with 100 freshly funded wallets > One entity claimed $4M from the… pic.twitter.com/WvN5D7qlU6 — Crypto with Khan ( SFZ ) (@Cryptowithkhan) November 29, 2025 Sponsored Crypto Needs Stronger…