zkSync plummets after airdrop controversy 2041 wallets sell off tokens

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zkSync price dropped by over 41% as over 41% of wallets sold almost all of their airdropped tokens.
Of the 10,000 wallet addresses tracked by Nansen, 4,086 sold their entire allocation of 343 million tokens. Another 2,983 addresses sold part of their allocation of 147 million tokens.
Only 2,931 wallet addresses, equivalent to 29% of the ZK tokens received in the airdrop, have not yet sold.
Nansen’s data covers 10,000 wallet addresses, which is just a small fraction of the 690,951 addresses that qualify for the airdrop. According to Dune, more than 77% of the airdropped tokens have been claimed.
The selling activity is having an impact on the price of the ZK token, which surged to a record $0.30 yesterday after being listed on Binance. As of 03:58 am ET, ZK was trading at $0.224, a 20% plunge over the past 24 hours. Trading volume has surged by more than 7,000%.
zkSync Criticized for Its Airdrop
Following the sale activity surrounding the zkSync token, the project has been criticized for failing to implement anti-counterfeiting measures, which critics claim will lead to people using multiple wallets to claim the tokens.
According to Looksonchain data, one user received more than 3 million ZK tokens using 85 wallets. The user has deposited the tokens on exchanges.
Someone received $3.01 million ($753,000) in airdropped tokens via 85 wallets!
The airdrop hunter then deposited $2.71 million ($678,000) into Binance and sold $300,000 (ZK) via SyncSwap for 20 ether ($69,000).
The project responded to the concerns, saying it used a unique airdrop design to reward organic users.

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