Access Restricted for EU Residents
You are attempting to access a website operated by an entity not regulated in the EU. Products and services on this website do not comply with EU laws or ESMA investor-protection standards.
As an EU resident, you cannot proceed to the offshore website.
Please continue on the EU-regulated website to ensure full regulatory protection.
Tuesday Nov 25 2025 22:30
2 min
MegaETH experienced a series of technical failures during its pre-deposit event, intended as a controlled opening for verified users. Furthermore, the deposit cap was exceeded due to a premature execution of a multi-signature transaction, leading to a temporary freeze on deposits.
The MegaETH team disclosed in an X post that configuration errors and rate-limit issues caused the platform’s Know Your Customer (KYC) system to falter. The pre-deposit window was designed to provide early access for verified users to secure allocations of the MEGA token.
In addition to the KYC failures, a fully signed Safe multisig transaction—prepared for a later cap increase—was executed prematurely, allowing new deposits to flood in and surpassing the intended $250 million limit. Deposits were ultimately frozen at $500 million, and plans to raise the limit to $1 billion were abandoned. A withdrawal option will be released shortly.
The team asserted that no assets were at risk, but they are taking responsibility for the errors and expect a higher standard of performance. MegaETH aims to deliver ultra-low-latency block processing and throughput comparable to real-time Web2 applications.
The pre-deposit window followed MegaETH’s MEGA token auction, which opened on October 27 and was fully subscribed within minutes. The sale offered 5% of the total 10 billion token supply, with bids ranging from $2,650 to $186,282 and an optional one-year lock-up providing a 10% discount.
Because contributions far exceeded the predetermined cap, MegaETH announced it would implement a “special allocation mechanism” to determine the final amount each participant receives.
MegaETH is built by MegaLabs, a team backed by prominent industry figures, including Ethereum co-founders Vitalik Buterin and Joe Lubin. Following its testnet launch in March, the project is now targeting 100,000 transactions per second with sub-millisecond latency. The MEGA token is slated to launch in early 2026.
Risk Warning: This article is provided for informational purposes only and does not constitute investment advice, investment research, or a recommendation to trade. The views expressed are those of the author and do not necessarily reflect the position of Markets.com. When considering shares, indices, forex (foreign exchange), and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and may not be suitable for all investors. Leveraged products can result in capital loss. Past performance is not indicative of future results. Before trading, ensure you fully understand the risks involved and consider your investment objectives and level of experience. Cryptocurrency CFD trading restrictions may apply depending on jurisdiction.
Latest
View all
Tuesday, 12 May 2026
4 min
Monday, 11 May 2026
6 min
Monday, 11 May 2026
4 min
Thursday, 14 May 2026
Indices
Gold Price Today, May 15: XAU/USD Consolidates in $4,650–$4,690 Range Amid Fed Policy Uncertainty
Thursday, 14 May 2026
Indices
Korean Stock Market Crash: Samsung and SK Hynix Power KOSPI to Record Highs
Wednesday, 13 May 2026
Indices
Gold price today, May 14: XAU/USD near $4,700, gold steady ahead of Trump-Xi talks
Tuesday, 12 May 2026
Indices
Record Inflows Pour into South African Markets Amid Reform Momentum: $42 Billion Foreign Investment Surge
Tuesday, 12 May 2026
Indices
Gold Price Today, May 13: Gold Plunges Below $4,700 as Hot US CPI & Surging Oil Crush Rate-Cut Hopes
Monday, 11 May 2026
Indices
Latest ETF News Highlights: BTC Price (BTC/USD) Holds at $81,500 Amid Strong Bitcoin ETF Inflows
Monday, 11 May 2026
Indices
Gold Price Today, May 12: XAU/USD Rises Sharply After Fed Cut Live Gold Price at $4,750
EN
