zkSync Slumps: OKX CEO Offers Counter-Narrative

OKX CEO Star Xu has questioned the growing criticism surrounding zkSync, a layer-2 scaling solution for Ethereum. Many have accused zkSync of being a “scam,” particularly in the wake of its recent airdrop. Xu, however, has raised the possibility that this backlash might stem from disappointment over the airdrop’s distribution.

The post on X (formerly Twitter) came in response to a message posted by influencer Sarkesh, a prominent voice on the X platform. In a post dated June 14, Sarkesh asserted that zkSync is “trending as the biggest scammer.” Adding that zkSync is no longer considered the best layer 2 network, Sarkesh stated, “Not only will we not use your network for the rest of our lives, we will do everything to destroy you.”

According to Wu Blockchain, zkSync received a lot of criticism after its token listing on Bybit. Industry figures, including TRON founder Justin Sun, Binance co-founder He Yi, and Star, reportedly raised concerns over the matter, highlighting diverse perspectives.

While Sun inquired if a boycott is essential, Binance’s Yi commented that the allegations may have risen from users not receiving the airdrop. Star’s post in response to Sarkesh’s criticism of zkSync read:

“Why a lot of crypto influencers blame zkSync as a scam? Is it because of the airdrop doesn’t meet the original community expectations?”

Meanwhile, cryptocurrency analyst Adam Cochran criticized the zkSync airdrop, asserting that it wasn’t a “well-planned airdrop from a Sybil attack prevention perspective.” He added, “Real users could easily have interacted with 1-2 dApps or only a handful of tokens on your chain when it’s so new and has so few projects.”