bithumb

Headline:
Bithumb’s $40B Bitcoin Credit Glitch — What Happened & Why It Matters
Short Intro:
South Korea’s crypto exchange Bithumb accidentally credited customers with over $40 billion worth of Bitcoin instead of the intended prize values — a stunning ledger error that sent shockwaves through the crypto world.
What Happened:
During a promotional campaign, Bithumb mistakenly issued 620,000 BTC instead of the correct smaller prize amount due to a decimal unit error.
The exchange reclaimed nearly 99.7 % of the affected funds via internal ledger adjustments, but about $9 million worth of Bitcoin remains missing after some customers withdrew or traded their credits.
The Financial Supervisory Service (FSS) in South Korea launched an official probe, and a parliamentary emergency hearing is scheduled to investigate internal controls.
Why It Matters:
This incident highlights the importance of strict operational controls at exchanges. For the broader crypto ecosystem, it’s a reminder that system integrity and human-error safeguards are critical — both for institutional players and everyday users.
Key Takeaways:
A major exchange issued too much Bitcoin due to a decimal input error.
Most funds were reversed, but a small amount remains unaccounted for.
Regulatory scrutiny and oversight discussions are intensifying.
Emphasizes operational risk beyond market price moves.
#CryptoSafety #Bitcoin $BTC #CryptoExchange #Bithumb

A wave of shock rippled through the digital-asset industry after reports surfaced that Bithumb, one of the largest exchanges in South Korea, mistakenly distributed an enormous amount of Bitcoin during a promotional event - a figure widely cited at nearly $40 billion.
While the exact mechanics are still being clarified, the incident immediately triggered panic trading, operational scrutiny, and renewed debate about safeguards inside centralized platforms. Market participants questioned how internal controls, treasury segregation, and withdrawal throttles could fail at that scale.
Regulators are now signaling that the episode may accelerate tighter supervision, compliance audits, and stricter consumer-protection frameworks for exchanges operating in the region. Traders, meanwhile, are bracing for potential aftershocks ranging from legal disputes to liquidity impacts.
Beyond the numbers, the event underscores a core industry truth: operational risk can move markets as fast as macro news.
More updates are expected as investigators and exchange officials release formal statements.
#Bithumb

The market is entering a critical "Decision Zone." After the "Ghost Coin" glitch at Bithumb sent Bitcoin into a tailspin to $60,000 last week, the recovery has stalled. As of this morning, Bitcoin ($BTC ) is trading near $69,000, facing stiff resistance as it attempts to turn the $70,000 psychological mark back into support.
1. The Bithumb Regulatory Fallout
The South Korean exchange Bithumb is under intense pressure today as the Financial Supervisory Service (FSS) labels its recent $42B ledger error "catastrophic."
The Situation: While 99.7% of the accidental Bitcoin was recovered, approximately 13 billion won ($9M) remains unrecovered after 86 users sold or withdrew the funds during the 35-minute chaos.The Impact: This has reignited the "Structural Risk" debate, causing traders to favor decentralized self-custody or high-liquidity Tier-1 exchanges like Binance.
2. The "Warsh" & Fed Balance Sheet Watch
Traders are nervously awaiting the Federal Reserve's Balance Sheet data releasing this Thursday.
The Sentiment: The "Warsh Pivot" (nomination of Kevin Warsh) has traders pricing in a "Hawkish" environment.The Flow: While Friday saw over $350M in ETF inflows, Ethereum ($ETH) is lagging, briefly dropping below $2,000 today as capital flows preferentially into the "Sovereign Reserve" of Bitcoin.
3. Trending: The #HYPE Challenge
A major trending topic on the Square today is the Arthur Hayes vs. Kyle Samani bet.
The Bet: Hayes is betting that Hyperliquid ($HYPE) will outperform every "top 100 shitcoin" between now and July. $HYPE has become the 2026 outlier, holding its value while others bleed, as it captures the "Perp DEX" narrative.
🔮 Prediction: The "Mid-Week Squeeze"
Bitcoin is currently trapped in a "Falling Wedge" on the 15-minute timeframe.
Bullish Case: A reclaim of the $71,500 level would trigger a massive short-squeeze toward $73,800, completing a five-wave impulsive pattern.Bearish Case: If the US advisories on Iran tensions escalate, we may see a final "liquidity sweep" back to $64,000.
💡 Smart Strategy: This is a "Contrarian" market. When the Fear & Greed Index hits 9, the "Smart Money" is usually shopping. Focus on RWA (Real World Assets) and Perp DEXs ($HYPE), which are decoupled from the broader macro fear. The "leverage flush" is nearly complete—don't let the noise shake your spot positions.
Are you betting on the "Hayes #HYPE" or HODLing the Bitcoin dip? Let’s talk below! 👇
#Bithumb #hype #ExtremeFear #writetoearn #crypto

Founded: 2014 (as “Xcoin”) by Kim Dae-sik, It quickly became Korea’s dominant crypto platform (by 2017 handling ~70% of domestic trading and even leading global volume) In 2018 a BK Global investment group (fronted by plastic surgeon Kim Byung-gun) bought a controlling stake. Today Bithumb (CEO Lee Jae-won) remains one of South Korea’s largest KRW-based exchanges.

Major incidents: Bithumb has weathered several crises. In June 2018 hackers stole about $31 million in crypto, and in March 2019 roughly $19 million of EOS/XRP was taken (an insider heist was suspected) In April 2024 an internal breach cost roughly $20 million.

Authorities also stepped in: a 2018 tax raid hit Bithumb, and in 2023–24 top executives faced legal charges (Ex-CEO Lee Sang-jun got 2 years for taking listing bribes, and Kang Jong-hyun – a “de facto” owner – was arrested for stock manipulation)

Feb 2026 pricing glitch:
During a Feb 6, 2026 promo event, a software error credited 2,000 BTC (instead of ₩2,000) to about 695 users, Recipients immediately sold their windfall, causing Bithumb’s BTC price to flash-crash (~17% drop to ~₩81M, about $55K) on that platform Bithumb froze trades (~35 min), halted withdrawals, and recovered ~99.7% of the mistaken BTC, The exchange publicly apologized and stressed the mishap was an internal accounting error (no external hack occurred) – reassuring that no actual customer funds were lost.


Sources: Authoritative news and the exchange’s official statement en.wikipedia.org, thenextweb.com, feed.bithumb.com, hackread.com, financemagnates.com! These detail Bithumb’s founding, growth, past hacks/regulatory cases, and the Feb 2026 glitch, Each fact is from a cited report!!

#BTC走势分析 #Bithumb

In a shocker that's got the crypto world buzzing, South Korean exchange Bithumb accidentally distributed over 2,000 $BTC (approx. $40 BILLION at current market prices) to users during a routine reward distribution.
Imagine logging in to see that in your wallet! While they've reported recovering 99.7% of the funds, this incident is a stark reminder of:
• The power of a single typo.
• The importance of robust security & internal controls for exchanges.
• Why #DYOR and holding your own keys matters
What are your thoughts on this massive mistake? Could it happen to a larger exchange? Share below! 👇
#Bithumb #bitcoin #CryptoNews #ExchangeHack