tech
February 7, 2026
South Korean crypto firm accidentally sends $44 billion in bitcoin to users
The move triggered a sharp selloff on the Bithumb exchange. The company apologized for the mistake.
TL;DR
- Bithumb accidentally gave away over $40 billion in Bitcoin to customers.
- The mistake occurred during a promotional event intended to give small cash rewards.
- Bithumb has recovered 99.7% of the erroneously distributed bitcoins.
- Trading and withdrawals were restricted for affected customers.
- The exchange emphasized that the incident was not a security breach.
- South Korean financial regulators will inspect Bithumb and other exchanges.
- The incident highlighted vulnerabilities and risks of virtual assets.
- Bitcoin prices briefly fell on Bithumb following the incident.
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