Quick Introduction: The MYX currency (MYX Finance) exploded in September 2025 — massive increases followed by accusations of manipulation and a distribution (airdrop) crisis, and all of this caused investors to lose millions while some people made huge profits. This article explains the story in detail: What is the currency? How did the increase and collapse happen? Who is the accused? And how can you protect yourself in the future. 🕵️♂️📉📈
What is MYX token? ⚙️🔗
$MYX is a token linked to a decentralized derivatives trading platform (DEX) called MYX Finance, aimed at providing perpetual contracts trading with benefits such as low slippage and low fees. The token emerged with a defined distribution (total supply = 1,000,000,000 MYX) and allocations dedicated to the community, team, investors, and institutions. Tokenomics details and the smart contract address are available in the official project documents.
Timeline: From Rocketing Rise to Allegations 🚀➡️💥
Big spikes: In early September 2025, MYX recorded very rapid increases — relative gains of hundreds of percent within days, and high trading figures pushed the token to record highs. News reports and market analyses documented the waves of spikes and the significant interest in it.
The Airdrop and controversy: After launching airdrop distributions and several community exchanges, reports emerged indicating that a large part of the distribution (estimated in the hundreds of millions of dollars according to some analyses) was exploited or linked to suspicious trading activities. This raised allegations of market manipulation.
Analysis and Intelligence Reports: Blockchain analysis companies and market research published reports showing that trading activity contains 'manipulation signs' (such as sudden volume explosions, low liquidity preceding large trades, artificial trading patterns). Some analyses concluded that the likelihood of trades being organic is less than 0.001% during certain periods.
MYX Team Response: The project team denied the allegations, stating that the airdrop distributions and activities were legitimate and that the claims were exaggerated or based on a misinterpretation of the data. The media dispute remained heated.
How did people lose millions? 💔💸
Timing mistakes: Many individual investors entered during the rising phases (FOMO) and bought before the peak — afterward, a violent correction or rapid drop occurred, causing their positions to freeze or dissolve in value.
Leverage and leverage: Trading derivatives with high leverage led to massive liquidations — meaning sequential losses for traders who used Margin.
Potential liquidity manipulation: If liquidity is artificial or suddenly withdrawn from the market, prices collapse rapidly, and those with sell orders or guaranteed positions lose very quickly. Analysis reports indicated that such patterns were present.
Who profited? And who are the beneficiaries? 🤑🎯
Investors or traders who sold early before the collapse profited — selling at the peak means huge profits.
Entities or large wallets may have benefited if they were behind price pump and dump operations — reports and market behavior evidence suggest this, but official investigations may be needed to prove it.
The figures (estimates) — how much are the losses? ⚖️
Media and analytical reports discussed hundreds of millions of dollars in trading volume and concerns about the value of distributions (some sources mentioned a figure close to 170 million dollars as part of the controversy surrounding the airdrop). However, an important note: the exact figures of personal losses vary significantly and depend on timing, leverage usage, and the platform used.
Is MYX a scam? 🕳️❓
The questions are open: some analysis reports — along with user complaints and community posts — question the integrity of some trading patterns and distributions, while the team denies the allegations. In similar cases, conclusive evidence requires a criminal investigation or detailed blockchain investigations and possibly regulatory actions. So far, there are strong allegations and analyses, but they are not a final judicial ruling.
How to protect yourself if you want to enter the token world? 🛡️✅
Don't fall into FOMO — don't buy just because the price is rising.
Understand tokenomics — see the token distribution and when the vesting periods end.
Use reliable liquidity sources (know the true liquidity size).
Do not use high leverage, especially in volatile assets.
Follow on-chain analytics (on-chain analytics) and look for manipulation signs: sudden volume explosions, new wallets controlling large liquidity, or illogical market patterns.
Conclusion — Quick Facts 📌
MYX is a token linked to a DEX derivatives platform and experienced rapid growth followed by widespread controversy over distribution and manipulation.
Blockchain analysis reports pointed to concerning signs, while the team denied the allegations. The investigation and results may change later.