Technical Error at Bithumb: 620,000 Bitcoin Accidentally Transferred to User Accounts

Massive System Error Leads to Potential Loss Bithumb, South Korea's second-largest cryptocurrency exchange, announced that a massive amount of Bitcoin was accidentally transferred to user accounts due to a technical malfunction in its systems.
Investigations revealed that approximately 2,000 Bitcoin were sent to each affected account as a result of the technical glitch.
These erroneous transactions, totaling 620,000 Bitcoin, were valued at over $44 billion based on market rates at the time of the incident.
The event has been recorded as one of the largest operational errors ever seen in the cryptocurrency world.
Rapid Intervention Recovers Assets Following the discovery of the error, the exchange management activated emergency protocols.
The company restricted trading and withdrawal permissions for the 695 affected customers within 35 minutes, preventing a potential capital flight.
In a recent statement, Bithumb officials reported that 99.7% of the accidentally distributed Bitcoin has been successfully recovered, largely preventing financial loss.
Efforts are ongoing to retrieve the remaining small amount.
Market Impact and Security Status The erroneous distribution triggered a sudden and sharp fluctuation in Bitcoin prices within the exchange.
The price of Bitcoin on the Bithumb platform briefly dropped by 17%, causing a sell-off before returning to general market levels.
Bithumb emphasized that the situation was not a cyberattack or an external security breach.
In an official statement, the company clarified: "We want to clarify that this incident is not related to a cyberattack or an external security breach.
There have been no issues with our security systems or customer asset management."