Bithumb Exchange Seeks Court Order to Freeze 7 BTC After Erroneous $43 Billion Distribution

BTCC / BTCC Square / Global Cryptocurrency /

Author:

Release Time:

2026-04-09 11:05:08

Bithumb exchange News -

South Korean cryptocurrency exchange Bithumb has escalated its recovery efforts by filing for a provisional seizure of 7 BTC, moving from internal negotiations to formal legal action following a major operational error in February.

The incident occurred on February 6 during a promotional campaign, when a staff member mistakenly listed rewards in BTC instead of KRW. This led to the accidental distribution of 620,000 BTC across hundreds of user accounts, valued at over $43 billion at the time.

While most recipients returned the funds, a small number have refused, arguing they have no legal obligation to do so. The ongoing dispute has forced Bithumb to delay its IPO plans until 2028 and offer compensation packages to affected users.

By:

Log in to Reply

US Treasury Proposes AML and Sanctions Rules for Stablecoin Issuers Under GENIUS Act

Articles on this site are sourced from public networks or curated by AI for informational purposes only and do not represent BTCC’s views. Original rights belong to the respective authors. For copyright concerns, please contact [email protected]. BTCC assumes no liability for the accuracy, timeliness, or completeness of this information, and disclaims all liability arising from reliance on such content. This content is for reference only and should not be taken as investment, legal, or commercial advice.