MegaETH encountered systemic errors that completely derailed the preliminary deposit round. The project planned to open a $1 billion cap, but due to a chain of failures was forced to stop at $500 million and abandon expansion.
The situation developed rapidly. In the first minutes after launch, the system began to fail in all directions — from the website to the smart contract and the Sonar infrastructure service. Users could not deposit funds, pages froze, and support tried to figure out the errors on the fly.
The smart contract error was the first trigger
Problems began as soon as the sales window formally opened. An incorrect SaleUUID accidentally ended up in the smart contract. To fix the error, MegaETH had to launch a transaction in Safe — and wait for confirmation from four out of six signers.
While the team was dealing with this, deposits were completely blocked, and users only saw a frozen interface and synchronization errors. When the SaleUUID problem was fixed, it turned out this was only the beginning.
Sonar started cutting normal traffic and blocking users
Sonar, responsible for request verification, mistook the mass deposit attempts for spam. It began rejecting completely legitimate actions. The deposit window remained unavailable for another 20 minutes while the team manually rewrote the rate limit parameters.
When the service finally started working, MegaETH decided to open deposits randomly to avoid overload and give everyone an equal chance. But in reality, the opposite happened.
The random access mechanism led to unfairness
The first users who endlessly refreshed the page got instant access to deposits. They took almost the entire $250 million limit in a matter of seconds. The rest never saw the restart moment and didn’t even get a chance to begin.
Frustration grew, and MegaETH prepared for plan ‘B’ — expanding the limit to $1 billion to give everyone a chance. It seemed the situation would start to balance out. But this is where the main mistake happened.
Early Safe launch opened the floodgates too soon
To raise the limit, the team had collected all signatures in Safe in advance. This was supposed to allow the transaction to be executed at exactly the right moment. But one team member didn’t realize that a fully signed operation could be launched by anyone. And launched it too early.
At that moment, the deposit system reopened — and a flood of new funds poured into the project, which no one could control anymore. MegaETH tried to lower the limit to $400 million to slow the flow, but the transaction was confirmed too late. The funds had already exceeded this threshold.
The team raised the limit to $500 million to freeze the situation and stop the deposit flow. This worked, but the round ended chaotically and much earlier than any planned schedule.
MegaETH cancels $1B round and prepares compensations
After this series of errors, MegaETH refused to raise the limit to $1 billion. The team explained that continuing the round would be unfair to those who couldn’t participate due to technical failures. The company announced it is preparing a withdrawal page so users can return deposits made under erroneous conditions.
MegaETH also noted that it will conduct an internal audit of all components — from the website to smart contracts — and will review the Safe process mechanics to prevent such chains of errors from happening again.
The round, which was supposed to be the perfect start before the public token launch, turned into a stress test for the project’s entire infrastructure.
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