The $3.5 Billion Binance Error: What Really Happened with PENGU?

Big news, crypto family—Binance just made a huge mistake with the listing of Puddy Penguins ($PENGU), and everyone is talking about it.

Here’s the deal: during the first 30 minutes after PENGU went live, Binance showed its market capitalization as $350 million instead of the actual $3.5 billion.

This is not a minor slip-up—it’s a billion-dollar error that led to wild trading chaos.

It turns out the problem was caused by a delay in updating the token information from CoinMarketCap (CMC), Binance’s main data provider.

The good news? Binance addressed the issue quickly, worked with CMC to fix it, and then admitted the disaster with a public apology.

But they didn’t stop there—the traders who got caught up in the madness during the trading window from 14:00 to 14:37 on December 17 will be compensated with an impressive 135 million PENGU tokens in airdrops.

Binance has also promised to up its game, with plans to explore alternative data sources and strengthen reviews with CMC.

It’s a costly lesson for the exchange, and

a reminder for traders to always stay alert, even on the largest platforms.