The excitement around the Arbitrum (ARB) airdrop has resulted in some surprising on-chain activity, with two “super airdrop hunters” consolidating tokens worth $3.3 million from 1,496 wallets into two wallets. One wallet received 1.4 million ARB from 866 addresses, while another received 933,375 ARB from 630 addresses. At the time of writing, the former is worth around $2 million, while the latter is worth around $1.38 million. The blockchain analysis platform Lookonchain has described the hunters as “super,” but the community has formulated its own theories about who they might be, with some speculating that they may be project team members, while others believe they may be hackers.
While the airdrop craze has garnered both negative and positive reactions from the community, some users have praised the efforts of the airdrop hunters, with one even calling them “airdrop god”. Despite the hype, the airdrop announcement has also led to hackers actively participating in the frenzy. On March 24, hacked vanity wallet addresses were used to steal $500,000 worth of ARB tokens from eligible airdrop participants. The hype has also spilled over to over-the-counter markets, with eligible crypto users already selling the tokens in OTC markets after the airdrop announcement.
