Bybit's PAWS Airdrop Takes a Chaotic Turn as Users Report Inconsistent Allocations

The Solana-based meme coin was at the cusp of its official launch on April 16, 2025.

The highly anticipated PAWS airdrop took a chaotic turn just when the Solana-based meme coin was on the cusp of its official launch on April 16.

Originally meant to reward early community engagement with a viral Telegram mini-app, the airdrop has instead sparked confusion across crypto forums and social platforms, as users reported wildly inconsistent allocations.

This arose as Bybit was among the first centralized exchanges (CEXs) to distribute the tokens on Tuesday, April 15, putting the tokens in users’ Unified Trading Account (UTA) or Spot Account ahead of the listing.

However, many noted that there were significant irregularities in the process. Several users claimed to be able to access two to five times their expected allocation, while others found no tokens in their accounts despite meeting all eligibility criteria.

On Wednesday, April 16, Bybit responded by announcing the reversal of all PAWS airdrop allocations due to errors in the distribution process.

“All previous $PAWS token distributions will be reversed by mid-night April 15 in accordance with the updated list and the tokens will be credited back to your account by April 16,” Bybit said in a blog post.

The exchange explained that the tokens had not been lost but were being reallocated through a revised, fairer process.

“A new round of airdrops is currently carried out based on the final eligibility data provided by the PAWS team and tokens will be credited to your account within 24 hours.”

This reversal, however, meant that many users saw their balances disappear, spurring fresh concerns.

“Heard they removed some Bybit’s users allocation from their wallets overnight, meanwhile I’ve still not received my own allocation in Bitget and Bybit. Let’s see how it goes today. Hope they sort it out asap #PAWS #Solana,” one user stated.

Part of the confusion appears tied to eligibility restrictions imposed by European regulations.

Bybit had stated that European Economic Area (EEA) users were excluded from the airdrop, explaining that it was in compliance with the regulation of MiCA, the EU’s Markets in Crypto-Assets.

“European Economic Area (EEA) users are not eligible for this campaign due to MiCA regulatory requirements. We recommend checking directly with the $PAWS community for any airdrop alternatives. Best regards, the Bybit Team.

This may have contributed to the inconsistencies, as tokens sent to restricted jurisdictions were reportedly recalled.

“If you got your PAWS airdrop on Bybit earlier today, it’s currently getting auto deducted (removed) so as to redistribute it again to everyone fairly. I think there was an issue whereby some got x2 to x5 of their initial allocation. But they are sorting it out now.

Nevertheless, the exchange asked users to be patient as it endeavors to restore the correct allocations before the PAWS/USDT trading pair goes live.

About 62.5 billion tokens, constituting 62.5% of the total supply, were reserved for users in one of the most extensive community distributions to date.

This included early adopters of the Telegram mini-app, while holders of popular Solana assets like Mad Lads NFTs and meme coins such as BONK and WIF were also featured. Participants in campaigns involving referrals and social tasks were also eligible.

To claim tokens, users had to submit their Bybit UID and Solana wallet address via the official PAWS claim site and complete KYC by mid-March.

Deposits via the Solana network began on March 13. However, many users reported seeing no token value in their wallets until after the official listing.

This led to mounting frustrations, with users taking to X (formerly Twitter) to express their grievances and some joking that the situation was becoming a meme itself. Several also accused Bybit of mishandling the drop.

“This is so amateurish, even the worst telegram airdrops did not screw up like this. What a mess. Hope they sort it out quickly #PAWS

Meanwhile, the project’s popularity has also made it a prime target for scammers, prompting both Bybit and the PAWS team to issue warnings against fraudulent activity and request users to be vigilant.

Amid this uncertainty, Bybit urged users to verify their status through official channels and beware of phishing attempts.

In a recent development, PAWS Labs announced that claims on centralized exchanges are now accurate, directing users to check their spot balances.

“The PAWS listing is all on track. Thanks to the CEXs that ensured a smooth airdrop distribution and supported the listing process, we are pleased to announce that the PAWS token is now live on major exchanges.

Users can now anticipate the token’s listing and the associated implications for the PAWS price.