The Telegram game Notcoin, deployed on the public chain TON, was launched on the 16th and opened for airdrop distribution. Unexpectedly, due to a large number of users wanting to claim the airdrop, Bybit Exchange and Telegram Wallet encountered issues, and users complained that they couldn’t receive the airdrop. In order to calm the community’s anger, Bybit and Telegram Wallet have launched a compensation plan.
(Prior summary:
Notcoin Mining Round 2: Bybit offers over 790% annualized returns for staking $NOT, TG Wallet offers free TON airdrop.)
(Background supplement:
Notcoin surges to $0.01! Tops as the largest meme coin for TON, listed on 18 exchanges including Binance, OKX, etc.)
The Telegram game Notcoin, which has been highly sought after since its launch in early January, officially issued the token NOT on the 16th. It also listed for trading on 18 exchanges including Binance, OKX, Bybit, Kucoin, Bitget, etc. Players can deposit the NOT tokens they obtained through playing the game into exchanges or the Telegram wallet application.
It is worth noting that after Bybit launched Notcoin on the 16th, perhaps due to the large number of traders, Bybit’s matching engine was temporarily paralyzed. The trading price of Notcoin on Bybit was much lower than other exchanges. Bybit users could only place market orders. In addition, many users’ Notcoin airdrop deposits did not arrive in a timely manner, causing community anger.
Bybit apologizes and introduces compensation plan
In response to this, Bybit CEO Ben Zhou issued an urgent tweet on the 16th to apologize, stating that Bybit’s wallet received approximately 370,000 on-chain transactions from Notcoin. The excessive number of on-chain transactions caused deposit delays, but all Notcoin deposits were credited later on the same day.
Ben Zhou also announced the introduction of a compensation plan on the 17th. Affected users of the NOT airdrop will receive 30 MNT airdrops, $50 in trial funds, and a VIP +1 upgrade for 3 months. For affected VIP users, additional trial funds of up to $500 will be provided based on their VIP level.
Telegram Wallet also experiences malfunctions and introduces compensation plan
At the same time, due to the overwhelming number of Notcoin deposits, Telegram Wallet also encountered issues. Many users in the official Telegram Wallet community reported problems such as the inability to use the wallet, not receiving Notcoin airdrops, and TON balances being reset.
Telegram Wallet’s official community response.
Telegram Wallet issued an announcement on the 17th stating that due to over 200,000 users conducting Notcoin transactions through the wallet, their server load became too high and malfunctioned. Therefore, some restrictions must be implemented on wallet functions.
Telegram Wallet announced on the 19th that wallet functions have been fully restored, and all users can now use all wallet features, including Notcoin exchange, withdrawals, and Wallet Earn activities.
Telegram Wallet also announced a compensation plan worth $10 million for affected users, including users who chose to receive Notcoin through the wallet, P2P traders, and Wallet Earn participants. Detailed information will be announced tomorrow, and payments will be made next week.
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