Bithumb Says Operational Error Caused Accidental Bitcoin Payout
South Korean cryptocurrency exchange Bithumb confirmed an operational error led to an abnormal Bitcoin payout during a promotional event, briefly causing a sharp price dislocation on its platform.
The company apologized, saying an abnormal amount of Bitcoin was paid to some customers and that prices fluctuated as recipients sold the assets. Internal monitoring detected the transactions, and Bithumb restricted trading on the affected accounts; the exchange says the market price returned to normal within five minutes and its domino liquidation prevention system prevented chain liquidations.
Bithumb denied any hacking or security breach and reassured users that customer funds remain safe and core services, including deposits and withdrawals, are operating normally. The exchange added that no customers suffered losses, that it will review the incident and disclose follow-up actions, and vowed to strengthen safeguards while apologizing for the inconvenience.
South Korea