Bybit Reverses PAWS Airdrop Following User Complaints Ahead of Token Launch

Bybit’s highly anticipated PAWS airdrop took a chaotic turn right when the Solana-based meme coin was at the cusp of its official launch on April 16, 2025.

Originally meant to reward early community engagement from users of the viral Telegram mini-app, the airdrop has instead stirred confusion across crypto forums and social platforms, with users reporting wildly inconsistent allocations.

Bybit’s Controversial PAWS Airdrop: Everything You Need To Know

On Tuesday, April 15, reports surfaced that some Bybit users had received PAWS tokens in their Unified Trading Account (UTA) or Spot Account ahead of the listing. However, many noted significant irregularities.

Several users claimed to have received two to five times their expected allocation. Meanwhile, others found no tokens in their accounts despite meeting all eligibility criteria.

Today, Wednesday, April 16, Bybit responded. The exchange announced the reversal of all PAWS airdrop allocations due to errors in the distribution process.

“All previous $PAWS token distributions conducted on April 15 will be reversed in accordance with the updated list,” Bybit said in a blog.

The exchange assured users 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,” the exchange added.

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

“This PAWS airdrop is now looking funny. I 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,” one user remarked.

Part of the confusion appears tied 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 the regulation of MiCA, the EU’s Markets in Crypto-Assets.

“Users based in the European Economic Area (EEA) remain ineligible for this campaign due to MiCA regulatory requirements…We recommend checking directly with the $PAWS community for any airdrop alternatives,” Bybit articulated on X (Twitter).

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,” another user commented.

Nevertheless, the Bybit exchange asked users to remain calm and promised to restore the correct allocations before the PAWS/USDT trading pair went live.

PAWS Airdrop Mechanics and Allocation

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

Eligibility included early adopters of the Telegram mini-app. 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. More importantly, they had to 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.

Frustrations mounted as users took to X (formerly Twitter) to air grievances. Some joked about the situation turning into a meme itself. Meanwhile, others accused Bybit of mishandling the drop.

“This is so amateurish, even the worst telegram airdrops did not screw up like this,” lamented one user.

The project’s popularity has also made it a prime target for scammers, prompting security warnings from both Bybit and the PAWS team.

Amid this uncertainty, Bybit reminded users to verify their status through official channels and warned against phishing attempts.

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

“All is on track for the upcoming PAWS listing, thanks to the CEXs that ensured a smooth airdrop distribution and supported the listing process,” PAWS Labs announced.

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