One trader made huge profits thanks to PENGU while another lost heavily due to technical problems on Binance

Technical issues on Binance related to the listing of Pudgy Penguins (PENGU) tokens on December 16, 2024 caused losses to many traders due to market capitalization data being displayed incorrectly in the first 30 minutes of trading . However, another trader made a whopping profit of $87,000 by providing liquidity to PENGU on decentralized exchange Raydium before listing on Binance. This trader bought just $6 PENGU and added to the liquidity pool with $1,100 SOL, taking advantage of the price difference caused by PENGU's initial strong trading activity. Binance later apologized for the incident and airdropped 135 million PENGU to affected traders on their exchange.