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BTCC / BTCC Square / Global Cryptocurrency /
Bithumb Exchange Faces $44B ’Ghost Bitcoin’ Crisis as FSS Mandates User Repayment

Bithumb Exchange Faces $44B ’Ghost Bitcoin’ Crisis as FSS Mandates User Repayment

Author:
Global Cryptocurrency
Published:
2026-02-09 16:22:09
16
2
Bithumb exchange News -

South Korea's Financial Supervisory Service (FSS) has intervened in the Bithumb exchange's catastrophic administrative error, where 620,000 BTC (~$44 billion) were mistakenly distributed to users instead of the intended 2,000 KRW (~$1.40) promotional rewards. Governor Lee Chan-jin clarified that recipients face legal obligations to return the funds under unjust enrichment laws, though users who confirmed transactions with Bithumb may avoid penalties.

The incident—triggered by a typographical error during a promotional event—has exposed systemic vulnerabilities in crypto exchange ledger systems. Market observers note the irony of such a flaw occurring in South Korea, home to the world's most stringent crypto compliance frameworks.

Bithumb's attempted recovery of 13 billion KRW (~$9.5 million) in misallocated BTC remains ongoing, with the exchange likely facing existential regulatory scrutiny. The FSS has signaled this case will inform its 2026 policy agenda for digital asset oversight.

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