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Bithumb Exchange Faces Regulatory Scrutiny After $40 Billion Bitcoin Distribution Error

Bithumb Exchange Faces Regulatory Scrutiny After $40 Billion Bitcoin Distribution Error

Author:

Global Cryptocurrency

Published:

2026-02-09 17:04:07

10

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Bithumb exchange News -

South Korean authorities are investigating Bithumb after the cryptocurrency exchange mistakenly distributed $40 billion worth of Bitcoin to customers during a promotional campaign. The error occurred when an employee entered payouts in Bitcoin instead of the intended South Korean won.

Within 20 minutes on February 6, hundreds of customers received 620,000 won worth of bitcoin instead of cash equivalents. Some users quickly sold their unexpected windfall, with 1,788 Bitcoins reportedly liquidated before Bithumb could rectify the situation.

The exchange claims the massive Bitcoin distribution resulted from human error. Regulators have formed a special task force to examine the incident and broader industry practices surrounding such accounting discrepancies.

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