LayerZero CEO confirms 100,000 wallets self-report Sybil activity

LayerZero CEO reveals 100,000 wallets have come forward to report Sybil activity, marking a significant development in the ongoing battle against fraudulent behavior. Bryan Pellegrino, the CEO of LayerZero Labs, expressed his gratitude for this data collection, as it will aid in identifying individuals engaging in similar fraudulent activities in the future. The announcement has generated both optimism and skepticism among users, with some questioning the platform’s detection capabilities. However, Pellegrino remains confident and urges skeptics to wait for the final results, stating that it is a war between good and evil. LayerZero has also formed partnerships with Nansen, a prominent analytics firm, and Chaos Labs, a leading security company, in an effort to analyze transactions and provide support to developers and committed users. A comprehensive report on Sybil detection is expected to be released following the self-reporting deadline.