The Bybit cryptocurrency exchange has encountered a technical issue during its recent PAWS token airdrop.
Consequently, some users received a disproportionately large amount of tokens. The exchange is aware that some users received more PAWS tokens than they were supposed to, while other users did not receive any tokens despite being eligible.
As a result of the incident, Bybit has stated it will revert all prior PAWS token distributions performed on April 15 and a new round of airdrop will follow by using the revised eligibility data provided by the project’s team.
Bybit announces PAWS airdrop reversal and redistribution plan
Bybit has shared a clear process to address the PAWS token distribution errors. According to the exchange’s official announcement, all previous token distributions that took place on April 15 will be completely reversed based on an updated eligibility list provided by the project’s team.
The exchange stated that the reversal is necessary to correct a situation where tokens were incorrectly allocated, with some users receiving excess amounts while others received nothing. Crypto analyst Szymanski commented on the situation via X: “So it turns out that Bybit over sent more tokens to some users while others like me haven’t received, now currently tokens are being called back.”
After the switch, Bybit will hold a second round of airdrops following the most recent eligibility data from the PAWS team. This redistribution is being performed with an emphasis on accuracy and will be accomplished before tokens are available for spot trading on the Bybit exchange.
Members who have seen PAWS tokens in their accounts and then seen them disappear should wait until the fixing process is done, as recommended by members who know what is going on.
Users from the EEA area are ineligible
Bybit has communicated some stats for impacted users by the PAWS token airdrop incident. First of all, users located in the European Economic Area (EEA) are not in this campaign due to the MiCA regulations.
The exchange has encouraged users who are located in the EEA to contact the PAWS community looking for information on other airdrop options. If they think they can claim tokens but registered with the wrong User ID and did not receive tokens from Bybit, the exchange advises contacting the PAWS community to see if that is a way to claim on-chain.
This is concurrent with several users on X claiming that they have already received their tokens, meaning redistribution has begun for several users. The PAWS token was initially a TMA dedicated to a meme and “a bold idea to bring people in without the usual complications.” Today, they call it a “sustainable, community-driven Web3 IP-brand designed for long-term growth and wide acceptance.”
If you are already on the waitlist for tokens, the claim will go live on April 16 starting at 11:00 UTC. You can claim your tokens on the PAWS Web platform. Participants on social media have been frustrated with the issues with the PAWS airdrop. The situation has raised some confusion amongst the community because users were showing tokens in unrelated accounts, only for them to disappear shortly after.
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