As the hype surrounding the Arbitrum (ARB) airdrop continues, on-chain activity shows that airdrop hunters consolidated tokens worth around $3.3 million collectively from 1,496 wallets into two wallets.
According to the blockchain analytics platform Lookonchain, a wallet received 1.4 million ARB from 866 addresses. The account then added all the ARB received to the Uniswap decentralized exchange to provide liquidity. The 1.4 million ARB tokens are worth around $2 million at the time of writing. On the other hand, another wallet. received 933,375 ARB, worth about $1.38 million, from 630 addresses.
We found 2 super airdrop hunters from $ARB.
0xe1e2 received 1.4M $ARB($1.92 million) across 866 addresses and added all 1.4 million $ARB to #Uniswap to provide liquidity.https://t.co/sncsZTHrP2
0xbd4e received 933,375 $ARB($1.28 million) through 630 addresses.https://t.co/p5vbqXMYxD pic.twitter.com/yK3LzbeC8t
— Lookonchain (@lookonchain) March 24, 2023
While the analytics platform described the addresses as simply two “super airdrop chasers,” members of the community couldn’t help but come up with their own theories as to who is behind the on-chain activities.
Some theorized that this may be the work of project team members while others think that it can be a hacker. Meanwhile, another community member believes that this may lead to a significant drop in transaction volumes.
While some sentiments were negative, others praised the efforts of so-called airdrop chasers, calling them Names as “airdrop god”. Another believes that whoever is after those addresses has spent an enormous amount of time and capital in cultivating the numbers.
Related: Arbitrum airdrop sells off on listing, but traders remain bullish on ARB
The hype behind ARB’s airdrop also made its way to over-the-counter (OTC) markets. On March 21, cryptocurrency users who were eligible for airdrops had already started selling tokens on OTC markets after the airdrop announcement.
Meanwhile, apart from prominent members of the community, hackers were also actively participating in the airdrop craze. On March 24, some hacked custom wallet addresses were used to steal $500,000 worth of ARB tokens from eligible airdrop participants.
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