ZORA Launch Chaos: Hidden Airdrop Sparks Immediate Dump

Cryptocurrency-focused social platform Zora triggered widespread confusion today by launching its namesake memecoin, ZORA, without any prior announcement or a clear claim process. Users were forced to interact directly with the token’s smart contract on the Base network, a process that only technically savvy participants could navigate. Despite the opaque launch, millions of dollars’ worth of tokens were quickly allocated to major centralized exchanges such as Binance and Bitget, as well as decentralized platforms like Uniswap and 1inch. Additionally, options trading for ZORA was already set up on Hyperliquid, highlighting that the trading infrastructure was prepared in advance. On-chain data revealed significant token movements between exchanges, suggesting that early access allowed insiders to dump tokens before an official Token Generation Event (TGE) could take place. The move, which follows earlier successful funding rounds involving major backers including Coinbase Ventures, has sparked social media backlash over the unfair advantage it created for early claimants. Critics argue that the lack of transparency in the airdrop process could harm user confidence and the broader credibility of such token launches.