Bithumb Exchange Swiftly Recovers 99.7% of $40B+ BTC Distribution Error, Vows to Cover Remainder
South Korean cryptocurrency exchange Bithumb has resolved a major operational incident involving the accidental distribution of approximately 620,000 BTC during a promotional campaign. The platform successfully recovered 99.7% of the misallocated Bitcoin within hours of discovery.
For the remaining 0.3% (about 1,788 BTC) that had already been sold by recipients, Bithumb committed to covering the shortfall using company funds. "Bithumb's total holdings of all virtual assets, including Bitcoin, fully match or exceed user deposits," the exchange stated on February 8, 2026.
The error occurred on February 6 when a system glitch distributed 2,000 BTC per user instead of the intended 2,000 Korean won ($1.40-$1.95) rewards. At current market prices, the erroneous distribution represented between $40-$60 billion in value.
