MYX Finance
Last changed 2026-10-10 · Score recalculated — Rescored under Scoring v2, the published formula (avoid.net/scoring): 22 → 26. Problems weighed by who is responsible: the subject's own conduct −50, concerns that are not fraud −16.4, problems around the subject, caused by others −2.6; legitimacy credit long-running +4; no established finding that it defrauded anyone, so it stays out of the red band. Version history →
Why this score
| Every page starts at | 65 |
| The subject's own conduct | -50 |
| Concerns that are not fraud | -16.4 |
| Problems around it, caused by others | -2.6 |
| Long-running | +4 |
| Sum | 0 |
- No established finding that it defrauded anyone, so it stays out of the red band (26 or above).
Score: 26/100 (kept between 0 and 100)
How scoring works →Summary
MYX Finance is a Singapore-based decentralized perpetual futures exchange founded in 2023 by Mark Zhang (Yihao Zhang), a former Huobi futures executive. The protocol raised $10 million across two funding rounds and launched its MYX token via airdrop in May 2025. Following a 1,400% token price surge in September 2025, on-chain analytics firm Bubblemaps alleged the largest Sybil airdrop attack in crypto history — tracing approximately $170 million in token claims across ~100 coordinated wallets back to a wallet linked to the project's creator — and on-chain investigator ZachXBT subsequently identified MYX among a cluster of tokens exhibiting a common supply-control manipulation pattern attributed to an unknown market maker operating through Asian centralized exchanges.
Connected Entities
8 entities · 60 linked investigations- OKX→mentioned with→Binance(60%)
- Heisenberg Guru (HSBG)→mentioned with→RaveDAO(80%)
- Heisenberg Guru (HSBG)→mentioned with→ZachXBT(70%)
- Heisenberg Guru (HSBG)→mentioned with→Binance(70%)
- Heisenberg Guru (HSBG)→mentioned with→Bitget(70%)
- ZachXBT→mentioned with→Binance(60%)
- MYX Finance→mentioned with→ZachXBT(70%)
- MYX Finance→mentioned with→Heisenberg Guru (HSBG)(80%)
- MYX Finance→mentioned with→Arbitrum(60%)
- MYX Finance→mentioned with→OKX(70%)
- + 8 more
1 submission awaiting moderator review.
Timeline(12 events)
November 2023
MYX Finance announces $5 million seed round led by HongShan (Sequoia China) at a $50 million valuation. OKX Ventures participates as an investor.
The BlockFebruary 2024
MYX Finance completes a $5 million strategic funding round and officially launches its perpetual futures platform on Linea.
Decrypt19 April 2025
Approximately 100 wallets with no prior on-chain history are funded via OKX with comparable BNB amounts within the same narrow transaction window — approximately one month before the MYX airdrop — according to Bubblemaps' later analysis.
Bubblemaps / Cryptonomist7 May 2025
MYX Phase 1 airdrop launches. Approximately 100 coordinated wallets simultaneously claim 9.8 million MYX tokens at around 5:30 AM, valued at approximately $170 million.
Bubblemaps / CoinPaper8 September 2025
MYX token surges 135% in 24 hours, with spot volume of $314.9 million and perpetual futures volume reaching $4.23 billion. Allegations of coordinated whale activity and insider pump begin circulating.
crypto.news9 September 2025
MYX reaches an all-time high of approximately $18.42–$19.03, representing a ~1,400% rally in seven days. Fully diluted valuation briefly approaches $17 billion. Over $39.7 million in MYX shorts liquidated in 24 hours.
BingX / Ainvest9 September 2025
Bubblemaps publishes on-chain analysis alleging the largest suspected Sybil attack in crypto history on the MYX airdrop, identifying ~100 coordinated wallets and linking one wallet (0x4a31) to the project creator's wallet (0x8eEB) via a $2.8M MYX transfer to 0xeb5A.
CoinTelegraph / Protos10 September 2025
MYX Finance issues public denial of fraud and manipulation charges, stating airdrop rewards were based on legitimate user activity and that address change requests were permitted. Bubblemaps rejects the response as vague.
Yahoo FinanceFebruary 2026
MYX completes a second strategic funding round led by Consensys ahead of a V2 platform launch. Consensys becomes the largest investor.
Decrypt18 April 2026
RAVE (RaveDAO) token collapses 95% from $26 to $1 in 24 hours. ZachXBT links RAVE to the same manipulation pattern he had previously identified in MYX, noting near-identical candlestick charts and supply concentration patterns.
CryptoTimes / BeInCrypto21 April 2026
ZachXBT publicly names MYX alongside RAVE, SIREN, COAI, M, PIPPIN, and RIVER as tokens exhibiting 'highly questionable price action' and describes a common manipulation playbook attributed to an unknown market maker operating through Chinese centralized exchanges.
MoneyCheck / Bitcoin.com News19 May 2026
ZachXBT offers a $10,000 bounty for evidence against Heisenberg Guru (HSBG), a Hong Kong market maker alleged to have run supply-control manipulation across RIVER, RAVE, SIREN, MYX, SKYAI, and LAB. ZachXBT names 'Sion' and 'Chao' as alleged core HSBG operators.
crypto.news / CryptoTimesDecision Log
- slot 455359756 · hash 2GoqcgccAmrWqrww4fsxt6N9qgfHuVivq7LfQHKo97SR
- slot 423421944 · hash 6r4EHGgqoUySK37qAj7oVqgEwNbo7XDZcmmTmETCusjc
This investigation is cryptographically anchored to the Solana blockchain (2 decisions). 22 of 22 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/31/2026, 1:58:45 PM
last updated: 10/10/2026, 6:41:01 PM
3 viewsavoid.net — verified advice for a post-truth world