Sorry for the incident related to the Puddy Penguins listing ($PENGU ), Binance has announced the airdrop distribution for users trading with certain privileges.
The world-famous NFT collection Puddy Penguins has been listed on multiple exchanges following the airdrop event. This popular cryptocurrency project began trading on Binance at 11:30 on the development day. The listing of #PENGU on Binance caused losses for investors due to a data trading incident on the exchange.
Binance has issued a statement regarding the aforementioned victims. The exchange used the following statements;
Binance apologizes for the inconvenience faced by users. In addition to conducting an assessment with our data provider, Binance will take measures to prevent similar issues, including researching alternative data sources and multiple data providers.
The exchange announced an extension of the large airdrop for a limited number of users.
Binance has issued a statement for PENGU
Binance has issued a statement regarding the data issue that occurred in the first half hour after the listing of PENGU. Binance continuously showed that the market value of PENGU was less than 10 times the current value during the first half hour each day. PENGU, witnessing $3.5 billion in trading, was reflected as $350 million on Binance. This situation caused liquidity to be burned.
Binance, the entity that clarified this issue, issued the following statement;
Due to delays in updating token information for Pudgy Penguins (PENGU) from the data provider CoinMarketCap, the market capitalization and fully diluted valuation (FDV) data for the project were not updated in a timely manner after being listed on Binance Spot. Binance informed the CMC team upon discovering the incident, and CMC quickly restored the issue.
The exchange announced the airdrop training program for PENGU slots collected on-site from 14:00 on December 17 to 14:37 on December 17. Binance will airdrop 135 million PENGU to traders during the period when CMC displayed inaccurate market capitalization data.
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