Name: South Korean crypto firm sends users $44 billion in bitcoins in error
Uploaded: 2026-02-08T17:14:00.216Z
Duration: 1 min 21 s
Description: South Korean cryptocurrency exchange Bithumb said on Saturday (February 7) it had accidentally given away more than $40 billion worth of bitcoins to customers as promotional rewards, triggering a sharp selloff.

South Korean cryptocurrency exchange Bithumb said on Saturday (February 7) it had accidentally given away more than $40 billion worth of bitcoins to customers as promotional rewards, triggering a sharp selloff.

Seoul

Bithumb, one of South Korea's largest cryptocurrency exchanges, mistakenly transferred 620,000 bitcoins—valued at $44 billion—to 695 users during a customer reward campaign. The exchange had intended to give small cash rewards but instead sent at least 2,000 bitcoins to each winner due to an error.

Bithumb quickly restricted trading and withdrawals for affected users and reported that 99.7% of the bitcoins were recovered by the following day. South Korean financial regulators have announced a review of Bithumb and other exchanges' internal controls, and bitcoin prices briefly dropped 17% after the incident before recovering.

South Korean crypto firm sends users $44 billion in bitcoins in error

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