Bugs, server crashes and scammers continue to plague crypto airdrops. Will regulatory pressures be next? skesslr has the news analysis of last week's $ARB airdrop
Any airdrop is an event. This one, which came amidst a market downturn and a regulatory crackdown on the crypto industry, seemed timed to lift the crypto community’s spirits just when they were at their lowest. Certainly, the free money didn’t hurt; many ARB claimants rushed to sell their new tokens on crypto exchanges for a healthy reward.
In the hours leading up to the airdrop, Arbitrum’s block explorer and the website for claiming tokens crashed in response to high server demand. Those who managed to complete the claim process successfully – usually by executing commands directly onto Arbitrum smart contracts – were forced to pay extraordinarily high gas fees because of the influx of network activity.
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