Sunday, February 8, 2026
27.3 C
Bangkok

Thailand Business News – South Korean Crypto Firm Accidentally Sends $44 Billion in Bitcoin to Users

Article Summary:

Bithumb, a major South Korean cryptocurrency exchange, mistakenly distributed around 620,000 bitcoins, valued at approximately $44 billion, during a promotional event on February 6, 2026. The promotional reward intended to offer users small cash bonuses of 2,000 Korean won but erroneously issued 2,000 bitcoins per winner instead.

The error was identified quickly, and Bithumb acted swiftly by restricting trading and withdrawals for the 695 affected accounts within just 35 minutes. The exchange clarified that the incident stemmed from an internal error and reassured users that there was no security breach or concerns regarding customer asset management.

By February 7, 2026, Bithumb had successfully recovered 99.7% of the erroneous bitcoins. However, the situation caused a brief 17% drop in Bitcoin prices on the exchange, which later rebounded as the issue was resolved.

Original Article:

South Korean crypto company mistakenly transfers $44 billion worth of Bitcoin to users

Bithumb, a South Korean cryptocurrency exchange, accidentally distributed approximately 620,000 bitcoins—worth about $44 billion—to users during a promotional event on Friday, February 6, 2026.

The error occurred when a promotional reward intended to give users small cash incentives of 2,000 Korean won ($1.37–$1.40) instead mistakenly issued at least 2,000 bitcoins per winner. Bithumb quickly identified the issue and restricted trading and withdrawals for the 695 affected accounts within 35 minutes.

The exchange confirmed the incident was due to an internal error, not a security breach or hacking, and stated there were no issues with system security or customer asset management. By Saturday, February 7, 2026, Bithumb had recovered 99.7% of the mistakenly distributed bitcoins.

The incident triggered a brief 17% drop in Bitcoin prices on the Bithumb exchange, which later recovered….

Read more…

Latest articles

Popular Categories