MegaETH scraps $1B plan after technical failures derail sale
Multiple technical failures during MegaETH’s pre-deposit phase pushed the raise beyond its limit and forced the team to halt the sale.
MegaETH’s pre-deposit event unraveled on Tuesday after a cascade of technical failures disrupted what was meant to be a controlled opening for verified users.
In an X post, the team said that configuration errors and rate-limit issues caused the platform’s Know Your Customer system to fail. The pre-deposit was an early window for verified users to lock in MEGA token allocations.
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 flow in and pushing the raise past its intended $250 million limit.
