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BTCC / BTCC Square / Global Cryptocurrency /
Bithumb Exchange Under Formal Investigation Following $43 Billion Bitcoin Distribution Error

Bithumb Exchange Under Formal Investigation Following $43 Billion Bitcoin Distribution Error

Author:
Global Cryptocurrency
Published:
2026-02-10 12:17:00
14
2
Bithumb exchange News -

South Korea's Financial Supervisory Service (FSA) has launched a formal investigation into Bithumb after a critical $43 billion bitcoin distribution error. The exchange mistakenly credited users with 620,000 BTC during a promotional event, triggering significant market volatility and immediate regulatory scrutiny.

Within 35 minutes, Bithumb froze the affected accounts and recovered most of the misallocated Bitcoin. The exchange has pledged 110% compensation for user losses after the BTC-KRW trading pair dropped by 15%. This incident has amplified calls across South Korea for stricter oversight and operational safeguards for cryptocurrency exchanges.

The error originated from a technical mix-up where Bitcoin was erroneously substituted for Korean won in a rewards distribution system. Market observers note this event underscores the persistent operational and technical risks inherent in digital asset platforms, even among established industry players.

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