MYX token manipulation appears likely: minute-by-minute analysis by Rena Labs and Insider.Cash found synchronized illiquidity, volume spikes, price ratio distortions and trade-intensity anomalies, indicating coordinated market manipulation rather than organic trading for the MYX token.
433% liquidity spike and 32 illiquidity events on Sept. 9–10
Average trade sizes dropped 67% and trade frequency fell 45% during peak anomalies
Bid-ask spreads paradoxically contracted to 8.2% from 15.8%, signaling coordinated manipulation
MYX token manipulation evidence shows synchronized anomalies across liquidity, volume and spreads; read analysis and protections. Learn what to watch and next steps.
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Spokespersons from Rena Labs said minute-level analysis revealed patterns in MYX trading consistent with coordinated market manipulation across multiple exchanges and metrics.
What is the evidence for MYX token manipulation?
MYX token manipulation evidence derives from minute-by-minute market-microstructure analysis showing synchronized deviations across illiquidity, volume spikes, price ratios and trade intensity. Rena Labs and Insider.Cash compiled 9,200+ data points and found patterns unlikely under organic trading conditions.
Rena Labs and market intelligence provider Insider.Cash analyzed 9,200+ minute-level data points between Sept. 9 and Monday and identified 249 trading anomalies. These anomalies included illiquidity spikes, abnormal volume bursts, distorted price ratios, and sharp changes in trade intensity.
How did liquidity and trade metrics change during the anomalies?
MYX liquidity anomalies on the Gate exchange spiked 433% on Sept. 9, with 32 illiquidity events recorded across Sunday and Monday. Average trade sizes contracted by 67% during peak illiquidity and trading frequency fell roughly 45%, dropping from 157 to 86 trades per minute.
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Bid-ask spreads behaved paradoxically: they contracted to 8.2% on Monday from 15.8% on Sept. 9. Normally, spreads widen when liquidity dries up; the synchronized contraction amid other illiquidity signals is a red flag for coordinated activity.
Rena Labs concluded the chance of all four metric groups (illiquidity, volume spikes, price ratios, trade intensity) deviating simultaneously was below 0.001%. That statistical improbability, combined with temporal synchronization, led researchers to characterize the behavior as coordinated, multi-vector manipulation rather than organic trading.
Researchers wrote: “The temporal synchronization of these extreme deviations across otherwise independent market microstructure metrics strongly suggests coordinated, multi-vector manipulation strategies, rather than organic trading activity driven by fundamental news or natural market forces.”
Blockchain analytics platform Bubblemaps reported a suspected Sybil attack tied to the MYX token airdrop on Sept. 9. Bubblemaps stated that one entity controlling roughly 100 newly funded wallets claimed over 9.8 million MYX tokens and realized an estimated $170 million profit from the airdrop.
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