Suspicious shuffle transactions in Blur.io’s air drop

02/26/2023 21:40 • Daily Digest • 72 views

It is reported that CryptoSlam has detected at least $577 million worth of shuffle transactions related to emerging market Blur.io, because the platform began airdropping its local tokens to users on Valentine’s Day on February 14. According to Scott Hawkins, the data engineer of CryptoSlam, the NFT data tracking agency, the detected cleaning transactions showed suspicious behaviors, such as resale of NFT at a price close to the initial transaction of assets in a short time. This behavior shows that some Blur users have been using different wallets to sell NFT to themselves in order to obtain Blur tokens (BLUR) and accumulate points for air drop.

CryptoSlam: At least $577 million of NFT sales related to Blur are cleaning transactions

Interpretation of the news:

CryptoSlam, the NFT data tracking agency, has detected over $577 million worth of shuffle transactions related to the emerging market Blur.io. The shuffle transactions were due to the platform’s air drop of its local tokens to users on Valentine’s Day, February 14. The detection of cleaning transactions revealed some suspicious behavior by certain Blur users, such as resale of NFT at nearly the original asset transaction price within a short period. This behavior suggests that some Blur users have been using different wallets to sell NFT to themselves to obtain Blur tokens (BLUR) and accumulate points for the air drop.

The use of shuffle transactions raises suspicion in the crypto community as it is a technique often used to hide the origin of funds. The transactions show a lack of transparency and violate the principles of fair distribution. CryptoSlam’s detection of these abnormal transactions is part of its initiative to promote transparency in the NFT marketplace.

Blur.io’s air drop initially garnered a lot of interest within the crypto community, especially due to its promise of a fair and equal distribution of tokens to users. However, the suspicious behavior by some users undermines the project’s integrity and could potentially deter future investors.

The emergence of NFTs has brought about significant changes in the way digital assets are traded. However, the lack of regulation and transparency in the marketplace has made it susceptible to fraudulent activities. CryptoSlam’s detection of suspicious shuffle transactions in Blur.io is an indication of the need for more regulation and transparency in the NFT marketplace.

In conclusion, CryptoSlam’s detection of suspicious shuffle transactions related to Blur.io’s air drop raises concerns about the integrity of the project. The use of such techniques violates the principles of fair distribution and undermines the project’s integrity. The crypto community needs to prioritize transparency and regulate the marketplace to prevent fraudulent activities such as the ones detected by CryptoSlam.

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Suspicious shuffle transactions in Blur.io’s air drop

CryptoSlam: At least $577 million of NFT sales related to Blur are cleaning transactions

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