MegaETH’s pre-deposit event faced technical failures, leading to KYC system issues and an early cap increase that allowed deposits beyond the intended $250 million limit. Deposits were frozen at $500 million, and plans to raise to $1 billion were scrapped. Assets were not at risk, but the team acknowledged the mistakes.

MegaETH’s auction for MEGA tokens was oversubscribed by 8.9x, drawing over $1.3 billion in commitments. Bids ranged from $2,650 to $186,282, with a one-year lock-up option for a 10% discount. The project, backed by Ethereum co-founders, aims for 100,000 transactions per second with sub-millisecond latency, launching the MEGA token in early 2026.

Read more at Cointelegraph: MegaETH Freezes Pre-Deposit After Early Sale Chaos