Pudgy Penguins’ PENGU Token Launch Hits Snags as Crypto Wallets Flag Claims Website as “Dangerous”

Pudgy Penguins NFT holders were supposed to be able to claim their share of 88 billion PENGU tokens starting today. However, some have reported they are missing a portion of their claims.

The launch of Pudgy Penguins’ PENGU token has encountered several challenges, including crypto wallets flagging the claims website and claimants reporting missing tokens.

NFT holders of Pudgy Penguins were able to begin claiming their share of 88 billion PENGU tokens on Monday.

However, some have claimed that they are missing a portion of their tokens. Crypto influencer Nick O’Neill shared a screenshot on Twitter showing that he claimed 573,092 tokens but only received 7,940. Others have reported missing up to half of their allocation.

Welp, says I claimed 563k $PENGU but wallet only has 7,940 …. GGs 😭 pic.twitter.com/ghqLC3wDsm

Read more: You’re not gonna make $50K in PENGU by buying and returning Pudgy toys

Moreover, crypto wallet firm MetaMask is flagging the Pudgy Penguins claim website as a potential threat that could steal users’ assets.

To top it off, according to Pudgy’s creative chief, ‘chefgoyardi,’ the website encountered DDOS issues after receiving over 4.7 million hits and 100,000 claims.

It appears that some issues may stem from Solana and its transaction limits. According to the founder of Clusters, the claims are being broken down into multiple transactions for some of the larger PENGU claims.

“Amount shown vs amount claimed is not a discrepancy, just refresh the page and it’ll show what you already claimed & what remains to be claimed,” they said.

Pudgy’s creative chief and safety program manager, ‘Beau,’ reminded users experiencing difficulties that they have 88 days to claim their tokens and that they can always choose to wait.

Chefgoyardi later announced that the “claim amount discrepancy/wallet connectivity issues are nearly patched.”

Pudgy Penguins trading as if the only reason it went up is because everyone was trying to get the airdrop, and now that the final exit liquidity event is over there is no reason to hold a useless jpeg anymore pic.twitter.com/6zTbigwVhJ

Read more: FTX token holders are getting Pudgy Penguins tokens

The floor price of Pudgy Penguins NFTs has dropped by over 50% following today’s events.

Wallets linked to early PENGU investors are already selling large amounts, with one wallet selling 176 million tokens, which is worth over $9 million at the current price.

According to CoinGecko, PENGU was trading at $0.06845 earlier today but has since dropped to $0.03116 — a 54% decrease in price.

Got a tip? Send us an email or ProtonMail. For more up-to-date news, follow us on X, Instagram, Bluesky, and Google News, or subscribe to our YouTube channel.