MegaETH (MEGA) Announces Full Refund of Token Presale Deposits

Doohyun Hwang

Summary

MegaETH said it decided to fully refund deposited funds due to confusion and technical errors in the token presale process.
It said the response was so explosive that 500 million units, representing 5% of the total supply, sold out within 5 minutes of the start of sales.
It announced that the deposit amount had significantly exceeded MegaETH's set cap, and that it would suspend the fundraising process and proceed with refund procedures.

MegaETH decided to refund all deposits due to confusion that occurred during the token presale process.

MegaETH said on the 27th (local time) via its official X, "We have decided to return all funds received for the MEGA sale," and added, "The sales process was not smooth. We will reannounce the procedure once the audit of the new smart contract required for refunds is completed."

Earlier, MegaETH had carried out presale deposit operations for the token 'MEGA'. The response was explosive. 500 million units, which is 5% of the total supply, sold out within 5 minutes of the start of sales.

However, the deposit amount was found to have greatly exceeded MegaETH's cap of 250 million dollars. This was the result of a technical error during the presale process. In the end, MegaETH halted the fundraising process and decided on a full refund.

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