MegaETH Cuts USDm Bridge Cap to $500M After Early Execution Error

MegaETH reduced its USDm bridging cap to $500 million after a pre-signed transaction was broadcast ahead of schedule, the project announced on Nov. 25. The team had prepared the transaction to raise the cap to $1 billion at Nov. 26 00:00 Beijing time, unaware that pre-signed transactions could be broadcast by any party. Crypto whale @chud_eth allegedly exploited this to execute the cap increase prematurely and complete allocations early. Over $483 million has been allocated.