• Arbitrum’s ARB token airdrop shook up the crypto space as on-chain activity of the popular layer-2 solution soared to levels not seen before.
• Two “super airdrop hunters” were able to acquire $3.3 million in ARB tokens collectively.
• Bad actors also took advantage of the airdrop by claiming it with compromised vanity addresses.
Arbitrum Launches ARB Token Airdrop
Arbitrum launched its much-anticipated token airdrop, transforming into a DAO and shaking up the crypto space as on-chain activity of the popular layer-2 solution soared to levels not seen before. According to technical documents, ARB has a total supply of 10 billion.
‚Super Airdrop Hunters‘ Reap Impressive Amounts
The frenzy behind the token launch brought out „super airdrop hunters“ that received 1.4 million ARB, worth around $1.92 million, and 933,375 ARB, worth $1.28 million respectively from 1,496 addresses . Collectively these two „hunters“ acquired around $3.3 million in tokens from the launch alone. The account that received 1.4 million added them all to Uniswap for liquidity provisioning purposeas well.
Malicious Actors Take Advantage Of Craze
The craze behind the Arbitrum token launch has also opened doors for malicious actors in the space looking to snag some tokens for themselves using compromised vanity addresses created via Profanity tool – an activation tool for so-called ‚vanity addresses‘. Founder and CEO of Hashscan NFT growth platform Alexander Tkachenko revealed that one hacker had made over $500K claiming this way during Arbitrums’stokens launch period .
ARB Token Supply & Distribution
ARB has an estimated total supply of 10 billion tokens with distribution evenly split between public sale (20%), team members (10%), advisors (5%) and premine operations (65%). The premine is allocated towards management & development/operational costs (25%), grants & ecosystem incentives (15%), treasury reserve fund(20%) and staking rewards pool(25%).