Odaily News MegaETH official stated on platform X, "We have decided to refund all funds raised through the pre-deposit bridge. Due to the careless execution process, the expected goal of ensuring a 1:1 USD exchange on the Mainnet with our deposit collateral is not met. The implications of this decision include: 1. The contributions of depositors will not be forgotten. However, all communications must comply with compliance standards (i.e., 'At this stage, we must adhere to best practices in information disclosure'), and the refund process requires a new smart contract, which is currently under audit. Refunds will be distributed as soon as the audit is completed. 2. USDm is an important component of the MegaETH economy and will receive support from many Frontier applications. Therefore, we will reopen the USDC to USDM conversion bridge before the Frontier Mainnet launch to deepen liquidity and simplify the sign up process for users before the launch."