Bybit's PAWS Airdrop Disaster: Reversal and Rerun Amid User Fury

Botched Airdrop Sparks Outrage

Bybit just pulled the plug on its April 15 PAWS token airdrop, leaving users fuming and scrambling for answers. The crypto exchange is now scrambling to fix the mess by reissuing the tokens after a botched distribution left some users swimming in extra tokens, while others got zilch.

Revised List and Regulatory Hurdles

In a Wednesday blog post that dropped like a bombshell, Bybit revealed that the PAWS project team handed them a new eligibility list, supposedly fixing the mess by including folks they'd left out before. But how many got snubbed in the first place? That's still a mystery. Bybit did throw in a reminder that users in the European Economic Area are still out of luck thanks to those pesky MiCA regulatory requirements.

Users Frustrated and Demanding Answers

The crypto community is up in arms, with one X user blasting Bybit for "not getting things right lately" and urging them to "restrategize." Bybit tossed out an apology to the affected users, but they're still tight-lipped on whether anyone's getting compensated for this fiasco. They did promise the redistribution would be wrapped up before the token hits the official spot listing.

PAWS: From Telegram to Solana

PAWS started life as a Solana memecoin, but it kicked off as a Telegram mini-app, dishing out "PAWS points" to users for joining groups, following channels, and roping in friends. But when Telegram started playing favorites with the TON network and cracking down on similar projects, PAWS had to jump ship to the more welcoming shores of Solana.