Cryptocurrency exchange Kraken will airdrop PUMP tokens from the Pump.fun public sale to some users who encountered order errors due to system overload, according to an announcement from Kraken's co-CEO Arjun Sethi.
"The sale was fully allocated in less than 60 seconds, and demand far exceeded supply," Sethi said. "The system recorded that some users participated at the right time but could not complete their orders due to system limitations. We have reviewed internal transaction logs and user activities to identify those affected."
Kraken has not disclosed the number of affected users, but the exchange's global consumer head stated that they are compiling a list and will soon send emails to eligible users.
"Airdrop eligibility is based on valid order placement during the sale period," Sethi said. "Users do not need to do anything else. Distribution will be automatic and completely free."
Kraken will have to buy back PUMP tokens from the secondary market to execute the airdrop. Although not all tokens have been distributed, the Hyperliquid exchange is currently pricing PUMP at around $0.0067 – significantly higher than the initial public sale price of $0.004.
Pump.fun has raised approximately 450 million USD onchain on Solana through its ICO, and distributed the remaining portion through partners like Bybit, Kraken, Bitget, MEXC, KuCoin, and Gate. Kraken is not the only exchange experiencing issues – Bybit also apologized to users after many reported being unable to purchase tokens despite placing orders just 9-10 seconds after the sale opened.
"Due to unexpected API issues, the sale was over-registered. Some users received tokens, while others did not," Bybit announced on X. Previously, they claimed the API error came from Pump.fun but removed this information from their post. Bybit stated they will provide further updates soon.
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The article Kraken will airdrop PUMP for users with order errors first appeared on CoinMoi.
