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After $44 billion error, Bithumb distributes 620,000 bitcoins to its cryptocurrency customers
2026-02-07 20:03:07 / BOTA
A mistake that cost South Korean cryptocurrency exchange Bithumb a whopping $44 billion, which announced on Friday that it had mistakenly distributed 620,000 bitcoins to its customers, causing a wave of panic and liquidations in the market.
Bithumb apologized for the incident and announced that it had recovered 99.7% of the cryptocurrencies within 35 minutes, blocking transactions and withdrawals for the 695 affected customers.
BITHUMB ACCIDENTALLY SENDS OUT 2000 BTC TO USERS WHO IMMEDIATELY DUMP MARKET
A major operational mistake at South Korea's crypto exchange Bithumb reportedly led to the accidental distribution of 2,000 BTC ($130M) instead of 2,000 KRW ($1.50) as a rewards payout.
According to… pic.twitter.com/GonGPdJ97r
— Bitcoin News (@BitcoinNewsCom) February 6, 2026
The error occurred during a promotional campaign, where the exchange planned to reward each customer with a 2,000 won bonus. Instead, each customer received 2,000 bitcoins. Bithumb clarified that the incident was not the result of a cyberattack and did not affect the security of the system or customers’ assets.
After the misallocation, the price of bitcoin fell by 17% to 81.1 million won, but later recovered to 104.5 million won.
Bithumb is the second largest cryptocurrency exchange platform in South Korea, after Upbit.
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