Bybit's PAWS Airdrop was anticipated to become chaotic as the meme coin on the Solana platform was preparing for its official launch on 16/04/2025.
Initially, this airdrop aimed to reward early community participation from Telegram mini app users, but instead caused confusion on cryptocurrency forums and social media, with users reporting inconsistent distribution.
Bybit's Controversial PAWS Airdrop: Everything You Need to Know
On Tuesday, 15/04, information emerged that some Bybit users had received PAWS tokens in their Unified Trading Account (UTA) or Spot Account before listing. However, many noticed significant irregularities.
Some users reported receiving two to five times their expected allocation. Meanwhile, others saw no tokens in their accounts despite meeting all eligibility criteria.
Today, Wednesday, 16/04, Bybit responded. The exchange announced it would reverse all PAWS airdrop distributions due to errors in the distribution process.
"All previous $PAWS token distributions made on 04/15 will be reversed according to the updated list," Bybit stated in a blog post.
The exchange assured users that tokens were not lost but being redistributed through a fairer process.
"A new airdrop is being conducted based on the final eligible data provided by the PAWS team," the exchange added.
However, this reversal temporarily caused many users to see their balances disappear, creating new concerns.
"This PAWS airdrop now looks ridiculous. I heard they deleted some Bybit users' allocations overnight, while I still haven't received my allocation on Bitget and Bybit. Let's see what happens today," a user commented.
Part of the confusion seems related to eligibility restrictions imposed by European regulations. Bybit reiterated that European Economic Area (EEA) users were excluded from the airdrop. The exchange cited compliance with MiCA, the EU's Cryptoasset Market regulations.
"Users in the European Economic Area (EEA) remain ineligible for this campaign due to regulatory requirements of MiCA… We recommend directly checking with the $PAWS community for alternative airdrop options," Bybit clarified on X (Twitter).
This may have contributed to the inconsistency, as tokens sent to restricted regions were reportedly recalled.
"If you previously received the PAWS airdrop on Bybit today, it is now being automatically deducted (deleted) to redistribute fairly to everyone. I think there was an issue where some people received x2 to x5 of their initial allocation," another user commented.
However, the Bybit exchange requested users remain calm and promised to restore accurate allocations before the PAWS/USDT trading pair is activated.
PAWS Airdrop Mechanism and Distribution
The PAWS Airdrop is one of the largest community distributions to date. Approximately 62.5 billion tokens, representing 62.5% of total supply, were allocated to users.
Eligibility conditions included early users of Telegram mini apps. Holders of popular Solana cryptoassets like Mad Lads Non-Fungible Tokens and meme coins like BONK and WIF were also eligible. Participants in referral and social campaigns were also qualified.
To receive tokens, users had to submit their Bybit UID and Solana wallet address through the official PAWS request page. More importantly, they had to complete KYC before mid-March.
Deposits via the Solana network began on 03/13. However, many users reported not seeing token values in their wallets until after official listing.
Disappointment grew as users took to X (formerly Twitter) to express dissatisfaction. Some joked that the situation had become a meme. Others accused Bybit of mishandling the airdrop.
"This is so amateur, even the worst Telegram airdrops didn't mess up like this," a user lamented.
The project's popularity also made it a top target for scammers, leading to security warnings from both Bybit and the PAWS team.
Amid this uncertainty, Bybit reminded users to verify their status through official channels and warned about potential fraud attacks.
Recently, PAWS Labs announced that requests on centralized exchanges are now accurate, guiding users to check their spot balances.
"Everything is on track for the upcoming PAWS listing, thanks to CEXs ensuring smooth airdrop distribution and supporting the listing process," PAWS Labs announced.
Users are now anticipating the token listing and its potential price impacts.
