Lighter Insiders Accused of Manipulating Airdrop Bets on Polymarket
Allegations of insider manipulation have surfaced surrounding the upcoming LIT token airdrop from Lighter, a zk-rollup perpetuals decentralized exchange. On-chain investigator Morsy claims that Lighter insiders used multiple linked wallets to place coordinated bets on Polymarket, skewing odds in favor of an airdrop before year-end. Over $250,000 in "YES" bets were traced to wallets funded via Kraken, targeting markets like "airdrop before December 31" and "December 29."
Traders are criticizing Lighter for declining revenue—$7 million in December compared to $40 million total—and questionable practices, including manual token distribution and lack of genuine users. Polymarket volumes for Lighter-related bets exceeded $15 million, with sharp odds fluctuations in recent days. The crypto community is scrutinizing the project's transparency as the airdrop approaches.
