Apriori, a trading infrastructure startup backed by Binance founder Changpeng Zhao’s venture firm, is under scrutiny following revelations of suspicious activity tied to its recent APR token airdrop.
The airdrop, conducted on October 23, was intended to distribute APR tokens to Apriori’s early community members and contributors.
However, on-chain data and analysis reviewed by a news outlet revealed that roughly 80% of the distributed tokens on BNB Chain were claimed by a cluster of more than 5,800 linked wallets.
The pattern strongly suggests an industrial-scale Sybil attack, in which a single actor or group creates numerous wallets to exploit token distribution events. Such behavior undermines the purpose of community-driven airdrops and raises questions about the project’s internal security measures and data handling.
Adding to the controversy, the wallet cluster was created before Apriori’s eligibility requirements were made public, suggesting that insider information or a potential leak could have given the attacker an advantage.
Analysts noted that the precise timing and coordination indicate a high level of planning and technical sophistication. Apriori, which is reportedly backed by YZi Labs, has not yet released an official statement addressing the allegations.
The project’s APR token has reacted sharply to the news, plunging around 60% from its launch price to a market capitalization of approximately $93 million, according to DL News.
The incident has reignited debates over airdrop fairness, transparency, and data security in the crypto industry.
Many in the community have called for Apriori to disclose how eligibility information may have been accessed prior to its announcement and what steps will be taken to prevent similar exploits in the future.
As investigations continue, Apriori faces the challenge of rebuilding user trust and proving that its infrastructure can uphold the standards expected of a high-profile, venture-backed Web3 startup.