Technical Error at Bithumb: 620,000 Bitcoin Accidentally Sent to 695 Users

Technical Glitch During Promotion A technical error occurred on Friday at the South Korea-based cryptocurrency exchange Bithumb.
During a promotional campaign intended to pay each user 2,000 won (approximately $1.37), a system malfunction resulted in the transfer of approximately 2,000 Bitcoins to each of the 695 participating users.
In total, it was reported that 620,000 Bitcoins were distributed by mistake.
Transactions Suspended Upon realizing the error, Bithumb management suspended trading and withdrawal operations for the affected users within 35 minutes.
In an official statement, the company announced that 99.7% of the mistakenly sent assets were successfully recovered.
The exchange management apologized to its customers for the disruption and stated that any potential losses would be covered.
Market Stability Restored Following the accidental transfers, some users attempted to quickly sell the Bitcoins they received, leading to short-term and sharp price fluctuations on the platform.
The exchange management stated that the situation was brought under control within five minutes and market stability was restored.
Operations on the platform have returned to normal following the incident, while technical investigations are reportedly ongoing.