The taxonomic validity of Palaemon minos is currently uncertain. The species description was mostly based on qualitative anatomical features (Tzomos and Koukouras 2015). However, Jabłońska et al. (2021) challenged the species hypotheses for P. minos and P. antennarius using combined taxonomic approaches. Although no firm conclusion was reached, results showed that populations on the Balkan Penninsula (in Albania and Montenegro, including Lake Skadar) currently assigned to P. antennarius may be a new separate species (based on geometric morphometrics), or should be synonymised with P. minos (based on phylogenetic reconstructions), or P. minos is a junior synonym of P. antennarius (based on low genetic divergence) (Jabłońska et al. 2021). The third option seems to be the most likely given the low genetic divergences, and logical as P. antennarius is a catadromous species; fully freshwater populations of these catadromous Palaemon are known for several other species (e.g., in United States, Belgium, France, Japan) (S. De Grave pers. comm. November 2024).

Palaemon minos is currently considered endemic to Crete, Greece, although this is uncertain: it may have a distribution that extends to the Balkan Penninsula (Albania and Montenegro) or it may be a synonym of the more widely distributed species, P. antennarius. More taxonomic research is needed to confirm its species status.

Within Greece, to date P. minos has only been found in Lake Kournas. As it has been recently described, more extensive studies are required to discover if the species is found in other freshwater bodies of Crete or if it is only restricted to Lake Kournas. Its current known extent of occurrence (EOO) and area of occupancy (AOO) are estimated to be 4 km² and it occurs in one locations (based on potential threats). Urban and tourism development in the surroundings of the lake has been increasing for several decades. Threats to the species include water abstraction and pollution mainly from agriculture and touristic infrastructure. However, the intensity of these threats is not significant and thus is suspected that the impacts to this species' status are negligible. Furthermore, there is no evidence for continuing habitat decline. Based on occurrence in one location, with a small EOO and AOO, but with the impact of known threats being considered low, potentially the species could be assessed as Near Threatened in Greece (nearly meeting criterion B). However, there is a great deal of uncertainty over its taxonomic status and whether it is more widespread than currently known (i.e., not endemic to Greece) and should be considered Least Concern. Currently, therefore, it is assessed as Data Deficient until its taxonomic status and its full distribution can be resolved.

Palaemon minos is currently considered endemic to Crete (Tzomos and Koukouras 2015), however there is some uncertainty around this: its distribution may extend to the Balkan Penninsula, or it may be a synonym of the more widely distributed species P. antennarius (Jabłońska et al. 2021). Within Greece, P. minos (as it is currently recognised) has only been found in Lake Kournas (Tzomos and Koukouras 2015, Kapakos and Karaouzas 2019). More extensive studies are thus required to discover if P. minos is found in other freshwater bodies on Crete or if it is only restricted to Lake Kournas, and to clarify its taxonomic status and therefore its full global distribution.

The population status of this species is unknown. However based on the current condition of the habitat, the population of the species seems to be stable.

Habitat requirements and information on the ecology of Palaemon minos is largely unknown.

The species is threatened by hydrological regime alterations due to water abstraction for agriculture and tourism demands. In addition, organic (e.g. untreated sewage), nutrient (fertilisers) and agrochemical (pesticides) pollution is a serious threat that may also result to population losses. Finally, the ongoing climate warming may result to the decline of available habitats (drought, water loss & water temperature warming) in the future. 

No conservation measures are known to be in place for this species and for its habitat. The site the species is known from is registered in the NATURA 2000 network under the name DRAPANO – GEORGIOUPOLIS BEACH – KOURNA LAKE and code A4340010.

Lake Kourna has been registered in the inventory of Greek wetlands as a wetland (inland permanently flooded freshwater lake of water) with code GR43438000. Lake Kourna has been characterized as a landscape of special natural beauty.

AT6020003: the area is listed in international – European biotope lists – wetlands, and is considered an important area for birdlife ICBP – IWRB, CORINE-Biotopes (AG0030050, AG0050037).

More research is needed to confirm the taxonomic status of P. minos and to confirm its full distribution and population status.