Bithumb recovers nearly all Bitcoin after recent airdrop error

cryptonews02-09 14:52

South Korean crypto exchange Bithumb said it has recovered nearly all of the Bitcoin mistakenly distributed during a promotional error that briefly disrupted prices on its platform earlier this month....

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In a notice published on its website, Bithumb said the incident stemmed from an internal mistake during a reward event on Feb. 6, when users were meant to receive small incentives denominated in Korean won. Due to a system configuration error, Bitcoin  was credited instead, prompting some recipients to immediately sell the assets.The exchange said it has since recovered about 99.7% of the wrongly transferred Bitcoin, adding that the remaining amount was recon","collect":0,"end_time":0,"defaultTopTitle":"crypto.news","property":[],"viewcount":null,"language":"en","relate_stocks":{"83042":"华夏比特币-R","BK4601":"加密货币现货ETF","03439":"嘉实比特币","BK4588":"碎股","BITO":"比特币期货ETF-ProShares","BTC":"Grayscale Bitcoin Mini Trust","BK4585":"ETF&股票定投概念","BK4594":"比特币ETF概念","BK1611":"加密货币现货ETF","03008":"博时比特币","03042":"华夏比特币"},"translate_title":"Bithumb在最近的空投错误后恢复了几乎所有比特币","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"83042":0.6,"03008":0.87,"BITO":0.6,"BTC":1.95,"03042":0.87,"03439":0.87},"content_text":"South Korean crypto exchange Bithumb said it has recovered nearly all of the Bitcoin mistakenly distributed during a promotional error that briefly disrupted prices on its platform earlier this month.\n\n\nSummary\n\n\n\nBithumb says it has recovered about 99.7% of Bitcoin mistakenly distributed during a reward event error.\nThe exchange used its own funds to reconcile remaining amounts after some BTC was sold.\nBitcoin prices briefly dropped on Bithumb but the impact did not spread to broader markets.\n\n\n\nBithumb says 99.7% of mistaken BTC has been recovered\nIn a notice published on its website, Bithumb said the incident stemmed from an internal mistake during a reward event on Feb. 6, when users were meant to receive small incentives denominated in Korean won. Due to a system configuration error, Bitcoin (BTC) was credited instead, prompting some recipients to immediately sell the assets.\nThe exchange said it has since recovered about 99.7% of the wrongly transferred Bitcoin, adding that the remaining amount was reconciled using Bithumb’s own funds after some users sold the assets during the brief window before the issue was identified. \nAs of late Feb. 7, the company said all affected balances had been fully restored, and customer assets were safely secured.\nBithumb moved quickly to block impacted accounts and initiate recovery procedures once the error was detected, stressing that the incident was the result of an operational failure rather than a security breach or hacking attempt.\nThe mistaken distribution briefly caused Bitcoin prices on Bithumb’s BTC/KRW market to plunge, diverging sharply from prices on other global exchanges. The episode highlighted how localized liquidity shocks on major platforms can affect price discovery, even when broader market conditions remain unchanged.\nTo address user impact, Bithumb said it would compensate traders who sold Bitcoin at unusually low prices during the incident and offer additional measures aimed at restoring confidence, including fee relief. \nThe exchange also said it has formed a dedicated internal task force to strengthen operational controls and prevent similar errors in the future.\nBithumb emphasized that the recovery of the assets demonstrates the effectiveness of its response systems and reiterated its commitment to safeguarding customer funds following the incident.\n\n\n\n\n\n                Read more:\n            \n\n                XRP price’s latest bounce lacks follow-through as sellers stay in control","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2610681845","isCrawlerRequest":true}