MegaETH's pre-deposit campaign failed due to a technical glitch, abandoning plans to expand the fundraising to $1 billion.

PANews reported on November 26th that, according to Cointelegraph, MegaETH's pre-deposit campaign failed on Tuesday due to a series of technical glitches. The campaign was intended to provide verified users with a controlled window to lock in their MEGA token allocations. The team stated on the X platform that the technical glitches stemmed from a configuration error and rate limiting issue with the KYC system. Simultaneously, a Safe multi-signature transaction prepared for subsequent increases was executed prematurely, resulting in new deposits flowing in and causing the total fundraising amount to exceed the original $250 million limit. The protocol provider stated that this allocation was obtained by users who continuously refreshed the page and happened to be randomly opened by the system. Ultimately, MegaETH froze the total deposit amount at $500 million and abandoned its original plan to expand the fundraising to $1 billion. The team stated that it will soon release a rollback plan and withdrawal options, and reiterated that user assets are always safe, but admitted that this operation did not meet its own standards and that no excuses were needed.