Market Chill Plus Overvaluation: MetaDAO Sees First ICO Flop Project

BlockBeats News, February 9th - Over the weekend, the Solana ecosystem's launchpad MetaDAO saw its first ICO failure project, Hurupay. The project launched on February 3, 2026, with a minimum fundraising goal of $3 million. In the end, it only raised around $2,003,593 (about 67% of the minimum target). Due to not reaching the required minimum funding threshold, MetaDAO announced the failure of this ICO, and all participant funds were refunded.

Community feedback pointed out that the project was overvalued, the team background was unclear, and significant changes in the fundraising terms were all factors contributing to this ICO failure.