MegaETH USDm Stablecoin Pre-Deposit Event Hit by Technical Failures and Multisig Error

MegaETH's USDm stablecoin pre-deposit launch on Tuesday faced multiple technical disruptions, including a bridge outage and a multisig configuration error. The misconfigured 4-of-4 signature threshold allowed premature execution of a cap-increase transaction, causing deposits to reopen 34 minutes early and surpass $400 million before the team stabilized operations. MegaETH has since canceled plans to raise the cap to $1 billion and will offer a withdrawal option to affected users.