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.
