Bithumb Recovers Overpaid Bitcoin, Covers 1,788 BTC Shortfall

South Korean cryptocurrency exchange Bithumb said it resolved an error that credited some user accounts with excess Bitcoin during a promotional event, recovering 99.7% of the overpaid BTC on the same day. The remaining 0.3%—1,788 BTC that had already been sold—was covered from company funds so customer balances remained fully matched.

Bithumb said its holdings of all virtual assets, including Bitcoin (BTC), are 100% equivalent to or exceeding user deposits. Most of the excess Bitcoin was retrieved directly from accounts, while the portion already liquidated required reimbursement from corporate reserves.

The platform restricted affected accounts and stabilized trading within minutes, preventing broader liquidations. Bithumb said the incident was not related to hacking and that no customer assets were lost, with deposits and withdrawals continuing as normal. As compensation, users who were connected to the platform at the time will receive 20,000 Korean won ($15) each.

South Korea