Binance has issued a formal apology for the issue that arose during the listing of Puddy Penguins $PENGU
which led to confusion and losses for investors. The problem stemmed from a delay in updating token information, causing PENGU’s market value to be inaccurately displayed as ten times lower than its actual value during the first half hour of trading. As a result, $3.5 billion in trades was reflected as just $350 million. To address the inconvenience, Binance announced a substantial airdrop of 135 million PENGU tokens to users who traded during the affected period, between 14:00 and 14:37 UTC on December 17, 2024. The exchange also outlined plans to review its data sources and implement measures to prevent similar issues in the future, including exploring alternative data providers. The issue was quickly resolved after Binance worked with its data partner, CoinMarketCap (CMC), to restore accurate token information.