Do you remember when Rayls confidently claimed they would use Authena POH to prevent Sybil attacks? Looking at it now, it’s just a joke.

After digging into the airdrop data, wow, a whopping 10% of the allocation was snatched up by 105 related wallets and over 9,300 addresses, involving nearly 7 million $RLS. The methods these people used were pretty simple: fund a new wallet with some gas, and as soon as the airdrop lands, transfer it out immediately or send it straight to a CEX.

The protective measures were basically useless, and instead, they became a precise tool for harvesting retail investors.