Kedar, Founder of ZigZag Reports 12,000 Confirmed Witch Addresses

02/27/2023 07:46 • AI Insights • 95 views

According to reports, Kedar, founder of ZK Rollup order book DEX ZigZag, said on social media that 12000 witch addresses have been confirmed. The standard for witches is to have more than 10 accounts with exactly the same L1+zksync activity. Users who only use 3-4 regular addresses have not been marked at present. The marked witch address will not be airdropped. This part of tokens will be returned to ordinary users in the form of “loyal user airdrop”, and an announcement will be issued as soon as possible.

ZigZag founder: 12000 witch addresses have been marked, and this part of the airdrop share will be returned to ordinary users

Analysis based on this information:

Kedar, the founder of ZK Rollup order book DEX ZigZag, recently took to social media to report the confirmation of 12,000 witch addresses. What are witch addresses? These are accounts on the blockchain that belong to a single entity, but are managed through multiple addresses. The standard for witches is to have more than 10 accounts with exactly the same L1+zksync activity.

According to Kedar, users who only use 3-4 regular addresses have not been marked as witch addresses. This implies that the 12,000 witch addresses discovered were mostly owned by entities that actively manipulate the system via the use of several accounts.

However, the marked witch addresses will not be airdropped. Instead, the tokens allocated to these addresses will be returned to ordinary users in the form of a “loyal user airdrop”. This means that users who have used the platform in a legitimate and loyal manner will receive tokens for their efforts, while witch addresses will be left with nothing.

It is unclear how much of an impact these witch addresses may have had on ZigZag and its users. Nevertheless, Kedar’s announcement regarding the discovery of these addresses shows the company’s commitment to ensuring a fair and transparent system.

In the cryptocurrency world, witch addresses are synonymous with fraud and are often used to manipulate prices or engage in other nefarious activity. The discovery of these addresses by Kedar and his team is a proactive measure towards ensuring the security and trust of users on the ZigZag platform.

In conclusion, Kedar’s announcement regarding witch addresses on ZigZag is a strong message to other entities looking to engage in fraudulent activity. While the use of multiple accounts may provide short-term benefits, the long-term consequences are not worth it. The loyal user airdrop also serves as a reward for honest users, helping to cultivate trust in the ZigZag ecosystem.

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