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Binance Apologizes for PENGU Listing Issue with a Huge Airdrop Compensation! ⏳
Binance has issued an apology following an issue with the listing of Puddy Penguins ($PENGU ) and announced a large airdrop to compensate affected users. The popular NFT collection Puddy Penguins was launched on multiple exchanges after its airdrop event. On the day of its development, the project began trading on Binance at 11:30 AM. However, a data transaction issue on the exchange impacted the PENGU listing, leading to confusion and losses for investors.
In response, Binance issued an apology for the inconvenience and clarified the situation. The exchange explained that the issue was related to the delay in updating token information, which resulted in PENGU’s market value being shown as 10 times lower than its actual value for the first half hour of trading. While PENGU saw $3.5 billion in trades, Binance incorrectly reflected it as just $350 million, which caused significant confusion and losses.
Binance acknowledged the problem and stated, “We apologize for the inconvenience experienced by our users. In addition to reviewing the issue with our data provider, we will implement measures to prevent similar problems, including researching alternative and multiple data sources.”
To make amends, Binance announced a large airdrop to users who traded PENGU during the period when the incorrect market data was displayed. The airdrop will distribute 135 million PENGU tokens to eligible users who traded between 14:00 and 14:37 UTC on December 17, 2024. The exchange confirmed that the issue arose due to delayed token data updates from its data provider, CoinMarketCap (CMC). Once Binance discovered the issue, CMC quickly restored the correct information.
This airdrop is part of Binance's efforts to compensate affected traders and ensure a smoother experience moving forward.
#PENGUOpening #BinanceAlpha
In response, Binance issued an apology for the inconvenience and clarified the situation. The exchange explained that the issue was related to the delay in updating token information, which resulted in PENGU’s market value being shown as 10 times lower than its actual value for the first half hour of trading. While PENGU saw $3.5 billion in trades, Binance incorrectly reflected it as just $350 million, which caused significant confusion and losses.
Binance acknowledged the problem and stated, “We apologize for the inconvenience experienced by our users. In addition to reviewing the issue with our data provider, we will implement measures to prevent similar problems, including researching alternative and multiple data sources.”
To make amends, Binance announced a large airdrop to users who traded PENGU during the period when the incorrect market data was displayed. The airdrop will distribute 135 million PENGU tokens to eligible users who traded between 14:00 and 14:37 UTC on December 17, 2024. The exchange confirmed that the issue arose due to delayed token data updates from its data provider, CoinMarketCap (CMC). Once Binance discovered the issue, CMC quickly restored the correct information.
This airdrop is part of Binance's efforts to compensate affected traders and ensure a smoother experience moving forward.
#PENGUOpening #BinanceAlpha
I lost 500 usd on this asset
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Binance Announcement
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Updates on Pudgy Penguins (PENGU) Token Information
This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
Due to a delay in updating the token information for Pudgy Penguins (PENGU) by our data provider CoinMarketCap, the market capitalization and full diluted valuation (FDV) displayed data for the project was not updated in time upon the listing on Binance Spot. Binance notified the CMC team upon discovery and CMC has swiftly refreshed their data.
The transparent nature of blockchain means on-chain data will be the most reliable and updated. As an exchange platform, Binance uses third-party sources to display data for our users’ convenience and reference only.
As a goodwill gesture, Binance has earmarked 135,000,000 PENGU tokens to be distributed to eligible users who bought PENGU between 2024-12-17 14:00 (UTC) and 2024-12-17 14:37 (UTC). The airdrop distribution will be credited to eligible users’ master accounts within 72 hours.
Airdrop Details:
Transaction Snapshot Period: 2024-12-17 14:00 (UTC) to 2024-12-17 14:37 (UTC)Eligible Airdrop Users: Users who purchased PENGU in the Binance Spot market (excluding the project’s market makers and VIP 4 - 9 users).Airdrop Rules: Binance will airdrop 135,000,000 PENGU to eligible users who purchased PENGU on Binance Spot during the transaction snapshot period based on their spot purchase volume.
For example, User A purchased 10 PENGU at 2024-12-17 14:10 (UTC) and sold all their PENGU at 2024-12-17 14:47 (UTC). The amount of PENGU token they can receive will be:
(10 / Total amount of PENGU purchased by all eligible users during the transaction snapshot period) * 135,000,000 PENGU
Binance apologizes for any inconvenience caused to users. In addition to conducting a review with our data provider, Binance will implement measures to prevent recurrence, including exploring alternative and multiple data sources.
Thank you for your support!
Binance Team
2024-12-18
Note: This announcement was updated on 2024-12-18 to clarify the airdrop distribution will be credited to eligible users’ master accounts within 72 hours.
Fellow Binancians,
Due to a delay in updating the token information for Pudgy Penguins (PENGU) by our data provider CoinMarketCap, the market capitalization and full diluted valuation (FDV) displayed data for the project was not updated in time upon the listing on Binance Spot. Binance notified the CMC team upon discovery and CMC has swiftly refreshed their data.
The transparent nature of blockchain means on-chain data will be the most reliable and updated. As an exchange platform, Binance uses third-party sources to display data for our users’ convenience and reference only.
As a goodwill gesture, Binance has earmarked 135,000,000 PENGU tokens to be distributed to eligible users who bought PENGU between 2024-12-17 14:00 (UTC) and 2024-12-17 14:37 (UTC). The airdrop distribution will be credited to eligible users’ master accounts within 72 hours.
Airdrop Details:
Transaction Snapshot Period: 2024-12-17 14:00 (UTC) to 2024-12-17 14:37 (UTC)Eligible Airdrop Users: Users who purchased PENGU in the Binance Spot market (excluding the project’s market makers and VIP 4 - 9 users).Airdrop Rules: Binance will airdrop 135,000,000 PENGU to eligible users who purchased PENGU on Binance Spot during the transaction snapshot period based on their spot purchase volume.
For example, User A purchased 10 PENGU at 2024-12-17 14:10 (UTC) and sold all their PENGU at 2024-12-17 14:47 (UTC). The amount of PENGU token they can receive will be:
(10 / Total amount of PENGU purchased by all eligible users during the transaction snapshot period) * 135,000,000 PENGU
Binance apologizes for any inconvenience caused to users. In addition to conducting a review with our data provider, Binance will implement measures to prevent recurrence, including exploring alternative and multiple data sources.
Thank you for your support!
Binance Team
2024-12-18
Note: This announcement was updated on 2024-12-18 to clarify the airdrop distribution will be credited to eligible users’ master accounts within 72 hours.
I l9st Mt £1200 last night trading and I slept off only to wake up to liquidation. I did even know how I got there.....seems whoke money is lost now
My Expectations were very high. Since March 2024.I used to add my salary to my wallet, One day I'll make some money but today .... fully frustrated . here is my two years Salary. I don't know how it will get back. waiting for some magic that will never ever happen . #AvoidFutures