$MYX Finance denies fraud allegations after $170 million Airdrop controversy.

The past week has been a whirlwind for $MYX Finance. A spectacular surge coincided with an eye-catching $170 million airdrop, leading to allegations of manipulation and a swift public denial from the $MYX team. In this analysis—written from the perspective of a Gate content creator—I will review the events that took place, outline $MYX's response, depict the current trading situation of $MYX, and share a Gate-original playbook to maintain discipline amid the volatility.

##$MYX Airdrop Controversy: What Exactly Happened with $MYX?

The controversy centers around a cluster of nearly 100 wallets that appear to have acted almost simultaneously during the $MYX airdrop. These addresses reportedly captured around 9.8 million $MYX in total—worth nearly $170 million at the time—despite their limited on-chain history and highly similar funding/claim patterns. This coordination raised concerns about Sybil attacks and prompted a thorough review of the $MYX distribution mechanism, eligibility rules, and pre-airdrop procedures.

##$MYX Refusal and Security Measures: How $MYX Explains Airdrops

$MYX Finance has denied allegations of fraud or manipulation, stating that the airdrop is intended to reward legitimate trading and liquidity activities. The team emphasized the safeguards under an internal initiative sometimes referred to as the "Cold Cambrian" movement, which includes anti-Sybil protection to detect and filter automated or coordinated behavior. The team also acknowledged that some high-traffic participants requested address changes before the launch, framing it as part of an open participation policy aimed at expanding community involvement. Looking ahead, $MYX stated that it will tighten protective measures for future activities and provide clearer eligibility guidelines to reduce gray areas.

##$MYX Price Background: Trading Situation of $MYX After 170 Million Airdrop Headlines

As of September 15, 2025, the price of $MYX is close to $10.19, with a market cap of approximately $2.01 billion and a circulating supply of nearly 197.11 million $MYX, while the maximum supply is 1 billion. To provide context, $MYX reached an all-time high (ATH) of nearly $19.01 on September 11, 2025, and an all-time low (ATL) of nearly $0.0467 on June 19, 2025—this astonishing range highlights the volatility of this price cycle. Following the airdrop headlines, $MYX surged over 1200% within a week at its peak, briefly pushing the fully diluted value into the tens of billions, before stabilizing within a broad and fluctuating range.

##$MYX Timeline Review: Key $MYX Milestones During Controversy

• The pre-airdrop model of $MYX: Analysis shows that about 100 historically lower wallets exhibited synchronized movements in the weeks leading up to the airdrop, subsequently claiming approximately $170M in $MYX.
• Public $MYX reply: The team pointed out that an anti-Sybil filter has been embedded in the $MYX activities, and the eligibility for rewards is related to real transactions/liquidity, while acknowledging some participants' requests for address changes.
• Market reaction of $MYX: After the airdrop, $MYX surged over 1,200%, reaching an all-time high of nearly $19, then entered a volatile range, subsequently falling back to $10–$11 as traders digested the news and volatility.

##$MYX Airdrop Design Course: The Significance of $MYX for Future Allocation

$MYX This episode highlights a reality of modern airdrops: even well-intentioned rules are subject to pressure tests of complex coordination. For projects inspired by $MYX, there are three practical takeaways:

1. Achieve deeper Sybil resistance for $MYX style activities: go beyond single signal checks. Combine behavioral heuristics, cross-site activities, and time series patterns to mark clusters.
2. $MYX participants' transparent eligibility: clear deadlines, public snapshot criteria, and post-event reporting reduce speculation and enhance trust.
3. Continuous auditing of $MYX allocation: Independent assessments, address-level summaries, and rapid response procedures help control narrative risks when anomalies occur.

##$MYX Listing on Gate: How the $MYX Listing Helps Gate Users Trade $MYX Transparently

Gate will launch the $MYX/USDT spot trading on September 9, 2025 (10:00 UTC). This is important for $MYX traders because you can gain:

• Transparency of $MYX's order book: real-time depth, recent trades, and slippage view, allowing you to intelligently adjust your position size.
• Structured orders for $MYX: limit orders, stop-loss orders, and trigger orders for systematic entry and exit, rather than chasing momentum.
• Regarding the $MYX alerts and watchlist: Price alerts at key levels in a high volatility environment mean less emotional decision-making.

$MYX's Gate Game Manual

• The anchoring level of $MYX: Consider $19 (the historical high) as the main resistance area, and the range of $10–$11 as effective support/resistance. Use alerts instead of market buy spikes.
• Check the depth of $MYX before determining the position: open the $MYX/USDT order book; thin depth will amplify slippage, so it should be entered in batches and staggered when exiting.
• Respect the volatility of $MYX: reduce position size after a surge of over 1200%, widen stop loss, and clarify invalid points.
• Track the fundamentals of $MYX: Pay attention to any anti-Sybil upgrades, airdrop reports, audits, or team distribution disclosures. Sustained throughput is more important than single-week headlines.

##$MYX Mechanism Review: Why Traders Care About $MYX Beyond the Headlines

It is worth noting the content being built by $MYX. $MYX Finance positions itself as a decentralized perpetual contract exchange (Perp DEX) aimed at achieving zero slippage execution through a matching pool mechanism (MPM). $MYX does not use classic AMM slippage but seeks to internally match the interest of long and short positions, using fund incentives to encourage balance between both sides. This design claims to offer USDC margin perpetual contracts with leverage of up to 50 times, providing a CEX-like experience while maintaining the transparency of DeFi. For traders assessing $MYX after the airdrop, on-chain trading volume, open contracts, and funding dynamics are data points that go beyond popular opinions.

##$MYX Risk Factors: Factors that may undermine the momentum of $MYX after the airdrop.

• The event-driven retracement risk of $MYX: Once the parabolic structure's narrative fuel weakens or new facts emerge, it often experiences a deep retracement.
• The allocation of $MYX is pending: With a circulating supply of approximately 197 million and a maximum supply of 1 billion, a lag in demand could exert pressure on the price through unlocking or incentivized issuance.
• The headline risk of $MYX: new forensic clues or contradictory statements may affect sentiment; let risk control - not emotion - dictate your position.

##$MYX Bottom Line: Gate Users Should Expect From $MYX

$MYX Finance is experiencing one of the fastest story developments of 2025: a new type of Perp DEX design, a sensational price surge, and a controversial $170 million airdrop. The team denies fraud and promises to strengthen safeguards. Meanwhile, the market is pricing in promises and uncertainties, making $MYX extremely volatile.

For traders, the Gate $MYX/USDT market offers a channel to participate in $MYX, with visibility, depth, and discipline. Set alerts around key levels, define invalid areas before entering, adjust positions based on volatility, and pay attention to updates on $MYX products/fair distribution. This is how to participate in $MYX—without letting noise affect your trading.