A Sybil attack is when an attacker creates multiple fake identities, or wallet addresses, to manipulate a network or protocol. This can be done for a variety of reasons, such as to gain an unfair advantage or to disrupt the normal functioning of a system. A Sybil attacker uses their fake identities to gain influence over the network which can have serious consequences such as unfair distribution of rewards.
Sybil attacks are widespread in DeFi, particularly for:
- Bounty Campaigns
- Community competitions
- Whitelisting and Token Generation Events
- Voting systems