Monad Airdrop Farmer Allegedly Loses $112K in MON on Gas Fees for Failed Trades

Rumors have surfaced alleging that a Monad airdrop farmer spent their entire $112,000 in MON tokens on gas fees for failed transactions, based on community reports and unverified blockchain data from Solscan.

The wallet address 0x7f4 reportedly received approximately $112,700 worth of Monad (MON) tokens as a reward for pre-launch activity, but lost the full amount across hundreds of failed blockchain transactions that still deducted gas fees, according to a Monday X post by crypto investor Joe.

No official confirmation has been provided by Monad Labs or its CEO, Keone Hon, and on-chain data remains unverified, raising questions about the incident's validity.

In a related security issue, Cos, founder of blockchain security firm SlowMist, identified a vulnerability in the Monad claim portal that allowed hackers to hijack user sessions and redirect airdrop allocations to attacker-controlled wallets without requiring wallet confirmation, as reported in a Tuesday X post.

This event mirrors past airdrop challenges, such as the Arbitrum ARB airdrop where hunters consolidated $3.3 million from 1,496 wallets, highlighting ongoing risks in airdrop execution and security.

Community reactions have emphasized concerns over potential exploitation and the need for enhanced procedures, though no direct market impacts have been documented.