Bybit is reversing and reissuing all PAWS tokens after botching the airdrop, leaving users angry and waiting for answers.
Cryptocurrency exchange Bybit is reversing its April 15 airdrop of PAWS tokens and plans to redistribute them again after a flawed distribution left some users with extra tokens, others with none, and prompted widespread complaints.
In a blog announcement on Wednesday, the exchange said that the PAWS project team “has provided a revised eligibility list, which includes previously omitted participants.” It’s unclear how many participants where omitted, though Bybit reminded that users based in the European Economic Area “remain ineligible” for this campaign “due to MiCA regulatory requirements.”
The move has left many users frustrated and confused. One user on X noted that Bybit “not getting things right lately,” urging the exchange to “restrategize.” Bybit has apologized to affected users, but it hasn’t clarified whether anyone will be compensated for the distribution issues. The exchange said the redistribution will be completed before the token’s official spot listing.
PAWS is a Solana memecoin that initially started as a Telegram mini-app rewarding users with “PAWS points” for joining groups, following channels, and inviting friends. The project quickly jumped ship to Solana after Telegram spooked developers with new rules favoring the TON network and clamping down on similar projects, forcing them to look for a more open alternative.
