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Headline: The $43 Billion Glitch! 🇰🇷 Bithumb’s "Phantom Bitcoin" Error Exposed!
What if you woke up with 2,000 BTC in your account? This actually happened on February 6-9, 2026 at Bithumb! Here is the breakdown of the biggest "Fat Finger" error in crypto history:
The Horror Story:
⌨️ Input Error: A staff member sent 2,000 BTC instead of 2,000 Won to 249 winners.
👻 Ghost Coins: Total 620,000 BTC ($43B) were created out of thin air in Bithumb’s internal system. This is 15x more than the exchange actually holds!
📉 Flash Crash: Panic selling caused a 17% price drop on the platform, crashing BTC to $55,000 locally.
🛡️ The Cleanup: Bithumb froze withdrawals within 35 mins and has recovered 99.7% of the funds.
Expert Analysis:
This incident highlights a massive flaw in CEX (Centralized Exchange) internal controls. While the funds are recovered, the "Crisis of Confidence" is real. South Korean regulators are now launching on-site inspections.
Lesson for Traders: Always keep your long-term holdings in a cold wallet. Internal exchange ledgers can be vulnerable to human error!
Would you have tried to withdraw the "Phantom BTC" or reported the glitch immediately? 😂👇
#BitcoinGlitch #bithumb #WhaleDeRiskETH #GoldSilverRally #BinanceBitcoinSAFUFund
What if you woke up with 2,000 BTC in your account? This actually happened on February 6-9, 2026 at Bithumb! Here is the breakdown of the biggest "Fat Finger" error in crypto history:
The Horror Story:
⌨️ Input Error: A staff member sent 2,000 BTC instead of 2,000 Won to 249 winners.
👻 Ghost Coins: Total 620,000 BTC ($43B) were created out of thin air in Bithumb’s internal system. This is 15x more than the exchange actually holds!
📉 Flash Crash: Panic selling caused a 17% price drop on the platform, crashing BTC to $55,000 locally.
🛡️ The Cleanup: Bithumb froze withdrawals within 35 mins and has recovered 99.7% of the funds.
Expert Analysis:
This incident highlights a massive flaw in CEX (Centralized Exchange) internal controls. While the funds are recovered, the "Crisis of Confidence" is real. South Korean regulators are now launching on-site inspections.
Lesson for Traders: Always keep your long-term holdings in a cold wallet. Internal exchange ledgers can be vulnerable to human error!
Would you have tried to withdraw the "Phantom BTC" or reported the glitch immediately? 😂👇
#BitcoinGlitch #bithumb #WhaleDeRiskETH #GoldSilverRally #BinanceBitcoinSAFUFund
Крах Bybit: паника на фоне обвала или реальная угроза рынку?
Для сообщества Crypto Emergency, автор Ян Кривоносов
Волна паники накрыла крипторынок 6 февраля после драматического обвала биткоина на $10 000 за сутки. В эпицентре слухов оказалась одна из крупнейших глобальных бирж — Bybit. В соцсетях заговорили о её возможной неплатежеспособности, массовых ликвидациях и технических сбоях. Но где грань между рыночной истерикой и реальной угрозой? Ответ кроется в фундаментальной уязвимости всей системы централизованных бирж, которую как на ладони показал недавний инцидент на Bithumb.
Слухи vs. Реальность: что происходит с Bybit?
На фоне обвала в соцсети X пользователь aixbt_agent сообщил о тревожных сигналах: продажа биржей 7 800 BTC за 30 минут, отток из биткоин-ETF на $434 млн и каскадные ликвидации. Хотя официального подтверждения нет, некоторые факты заслуживают внимания.
Подтверждённые технические аномалии:
На платформе были зафиксированы резкие всплески цен на фьючерсные контракты. Например, график фьючерса MNT/USDT показал взлёт с $1.20 до $4.54 за секунды. Подобные аномалии характерны для сбоев в работе оракулов (поставщиков ценовых данных) или критической нехватки ликвидности. Они запускают принудительное закрытие позиций трейдеров, даже если глобальная рыночная цена остаётся стабильной.
Неподтверждённые слухи о неплатежеспособности: Ключевое утверждение о проблемах с резервами Bybit остаётся голословным. Продажа крупных пакетов биткоинов может быть частью стандартного управления ликвидностью. Официальные аккаунты биржи продолжают публиковать новости о листингах, не комментируя слухи. Однако молчание руководства на фоне паники лишь подливает масла в огонь.
Исторический контекст: проверка на прочность
Ровно год назад, в феврале 2025, Bybit уже пережила крупнейший взлом в истории индустрии, когда хакеры из Lazarus Group похитили Ethereum на $1.5 млрд. Тогда биржа показала образцовое управление кризисом: привлекла экстренные займы, обработала все запросы на вывод и полностью покрыла убытки клиентов. Этот прецедент говорит о наличии у биржи стрессовых механизмов. Но один успешно пройденный кризис не отменяет системных рисков.
Bithumb как зеркало системного кризиса: они могут «печатать» биткоины
Инцидент на южнокорейской бирже Bithumb, произошедший почти одновременно с обвалом, — это не случайность, а наглядная демонстрация фундаментальной болезни всех CEX (централизованных бирж).
Из-за человеческой ошибки 695 пользователям были начислены не 2 000 вон ($1.4), а 2 000 биткоинов каждому. Внутренняя система биржи одномоментно создала записи о 620 000 BTC (около $44 млрд), которых физически не существовало в её резервах. Это в 14 раз превышало реальные запасы биржи.
Это доказывает ключевую мысль:
внутри своей закрытой системы биржа — абсолютный бог. Она оперирует не реальными активами в блокчейне, а записями в приватной базе данных. Эти цифры можно изменить одним кликом — случайно, как в случае с Bithumb, или намеренно. Пока вы не выводите средства в сеть, вы владеете не биткоином, а обещанием биржи его предоставить. Разница между этими суммарными «обещаниями» всем пользователям и реальными резервами и есть тот самый «бумажный биткоин», о котором я не раз говорил.
Что будет с рынком, если угроза реализуется?
Сценарий краха крупной биржи, такой как Bybit, — это не апокалипсис для биткоина, а болезненное, но необходимое очищение, которое я ранее прогнозировал.
1. Вскрытие реального дефицита и взлёт цены.
Коллапс покажет, что значительная часть «биткоинов» на счетах была фиктивной. Шок обнажит истинную редкость актива, ограниченного 21 миллионом монет. Внезапно окажется, что реального предложения на рынке ещё меньше. Этот фундаментальный дисбаланс — классический драйвер для мощного роста цены после первоначальной паники.
2. Волна правосудия и затишье.
Как после краха FTX, последуют уголовные дела. Под удар попадут не только руководители, но и маркет-мейкеры, участвовавшие в создании «фантомной» ликвидности. Это на время прекратит беспредел и заставит игроков действовать в правовом поле.
Возврат к философии Сатоши.
Массовый вывод уцелевших активов с бирж в некастодиальные кошельки станет глобальным уроком: «Not your keys, not your coins». Сокращение ликвидного предложения на площадках ещё больше усилит базовый дефицит, закладывая основу для следующего ралли.
Заключение
Текущая ситуация с Bybit — это коктейль из рыночной паники, реальных технических сбоев и системной уязвимости, присущей всей индустрии. Слухи о неплатежеспособности пока не подтверждены, но инцидент с Bithumb лишний раз доказывает: доверие к третьей стороне в децентрализованном по замыслу пространстве — это ахиллесова пята всего рынка.
Падение одной из крупных бирж не только возможно, но и, в долгосрочной перспективе, полезно для экосистемы. Оно отсечет нежизнеспособные практики, обнажит реальную ценность биткоина и вернёт рынок к его основополагающим принципам. Будьте готовы, следите не только за ценами, но и за состоянием резервов и прозрачностью площадок, на которых храните активы.
Это не финансовый совет, а анализ, основанный на последних событиях и опыте наблюдения за циклами рынка.
#bybit #etf #Ethereum #биткоин #Bithumb
Волна паники накрыла крипторынок 6 февраля после драматического обвала биткоина на $10 000 за сутки. В эпицентре слухов оказалась одна из крупнейших глобальных бирж — Bybit. В соцсетях заговорили о её возможной неплатежеспособности, массовых ликвидациях и технических сбоях. Но где грань между рыночной истерикой и реальной угрозой? Ответ кроется в фундаментальной уязвимости всей системы централизованных бирж, которую как на ладони показал недавний инцидент на Bithumb.
Слухи vs. Реальность: что происходит с Bybit?
На фоне обвала в соцсети X пользователь aixbt_agent сообщил о тревожных сигналах: продажа биржей 7 800 BTC за 30 минут, отток из биткоин-ETF на $434 млн и каскадные ликвидации. Хотя официального подтверждения нет, некоторые факты заслуживают внимания.
Подтверждённые технические аномалии:
На платформе были зафиксированы резкие всплески цен на фьючерсные контракты. Например, график фьючерса MNT/USDT показал взлёт с $1.20 до $4.54 за секунды. Подобные аномалии характерны для сбоев в работе оракулов (поставщиков ценовых данных) или критической нехватки ликвидности. Они запускают принудительное закрытие позиций трейдеров, даже если глобальная рыночная цена остаётся стабильной.
Неподтверждённые слухи о неплатежеспособности: Ключевое утверждение о проблемах с резервами Bybit остаётся голословным. Продажа крупных пакетов биткоинов может быть частью стандартного управления ликвидностью. Официальные аккаунты биржи продолжают публиковать новости о листингах, не комментируя слухи. Однако молчание руководства на фоне паники лишь подливает масла в огонь.
Исторический контекст: проверка на прочность
Ровно год назад, в феврале 2025, Bybit уже пережила крупнейший взлом в истории индустрии, когда хакеры из Lazarus Group похитили Ethereum на $1.5 млрд. Тогда биржа показала образцовое управление кризисом: привлекла экстренные займы, обработала все запросы на вывод и полностью покрыла убытки клиентов. Этот прецедент говорит о наличии у биржи стрессовых механизмов. Но один успешно пройденный кризис не отменяет системных рисков.
Bithumb как зеркало системного кризиса: они могут «печатать» биткоины
Инцидент на южнокорейской бирже Bithumb, произошедший почти одновременно с обвалом, — это не случайность, а наглядная демонстрация фундаментальной болезни всех CEX (централизованных бирж).
Из-за человеческой ошибки 695 пользователям были начислены не 2 000 вон ($1.4), а 2 000 биткоинов каждому. Внутренняя система биржи одномоментно создала записи о 620 000 BTC (около $44 млрд), которых физически не существовало в её резервах. Это в 14 раз превышало реальные запасы биржи.
Это доказывает ключевую мысль:
внутри своей закрытой системы биржа — абсолютный бог. Она оперирует не реальными активами в блокчейне, а записями в приватной базе данных. Эти цифры можно изменить одним кликом — случайно, как в случае с Bithumb, или намеренно. Пока вы не выводите средства в сеть, вы владеете не биткоином, а обещанием биржи его предоставить. Разница между этими суммарными «обещаниями» всем пользователям и реальными резервами и есть тот самый «бумажный биткоин», о котором я не раз говорил.
Что будет с рынком, если угроза реализуется?
Сценарий краха крупной биржи, такой как Bybit, — это не апокалипсис для биткоина, а болезненное, но необходимое очищение, которое я ранее прогнозировал.
1. Вскрытие реального дефицита и взлёт цены.
Коллапс покажет, что значительная часть «биткоинов» на счетах была фиктивной. Шок обнажит истинную редкость актива, ограниченного 21 миллионом монет. Внезапно окажется, что реального предложения на рынке ещё меньше. Этот фундаментальный дисбаланс — классический драйвер для мощного роста цены после первоначальной паники.
2. Волна правосудия и затишье.
Как после краха FTX, последуют уголовные дела. Под удар попадут не только руководители, но и маркет-мейкеры, участвовавшие в создании «фантомной» ликвидности. Это на время прекратит беспредел и заставит игроков действовать в правовом поле.
Возврат к философии Сатоши.
Массовый вывод уцелевших активов с бирж в некастодиальные кошельки станет глобальным уроком: «Not your keys, not your coins». Сокращение ликвидного предложения на площадках ещё больше усилит базовый дефицит, закладывая основу для следующего ралли.
Заключение
Текущая ситуация с Bybit — это коктейль из рыночной паники, реальных технических сбоев и системной уязвимости, присущей всей индустрии. Слухи о неплатежеспособности пока не подтверждены, но инцидент с Bithumb лишний раз доказывает: доверие к третьей стороне в децентрализованном по замыслу пространстве — это ахиллесова пята всего рынка.
Падение одной из крупных бирж не только возможно, но и, в долгосрочной перспективе, полезно для экосистемы. Оно отсечет нежизнеспособные практики, обнажит реальную ценность биткоина и вернёт рынок к его основополагающим принципам. Будьте готовы, следите не только за ценами, но и за состоянием резервов и прозрачностью площадок, на которых храните активы.
Это не финансовый совет, а анализ, основанный на последних событиях и опыте наблюдения за циклами рынка.
#bybit #etf #Ethereum #биткоин #Bithumb
BITHUMB IMPLODES: $44 BILLION GONE!
South Korea's regulators are on Bithumb. A full-scale inspection is underway. They're digging into a colossal $44 billion bitcoin overpayment blunder. Custody and control failures are under the microscope. This is massive. The financial watchdogs are not playing games. This probe could shake the entire market.
Disclaimer: This is not financial advice.
#Bithumb #CryptoNews #MarketCrash 🚨
South Korea's regulators are on Bithumb. A full-scale inspection is underway. They're digging into a colossal $44 billion bitcoin overpayment blunder. Custody and control failures are under the microscope. This is massive. The financial watchdogs are not playing games. This probe could shake the entire market.
Disclaimer: This is not financial advice.
#Bithumb #CryptoNews #MarketCrash 🚨
🚨 UPDATE: Bithumb $BTC Incident
Some Bithumb users might be asked to return Bitcoin that was mistakenly credited during a recent issue.$ZRO
Regulators say users who sold the accidentally received BTC could be legally obligated to give it back. Legal experts mention that “unjust enrichment” laws usually support Bithumb’s position, since the promotion did not promise such large BTC rewards.$STG
Now, the main legal question is whether users were aware that the payout was an error before they decided to sell. 💥
#Bithumb #Bitcoin
Some Bithumb users might be asked to return Bitcoin that was mistakenly credited during a recent issue.$ZRO
Regulators say users who sold the accidentally received BTC could be legally obligated to give it back. Legal experts mention that “unjust enrichment” laws usually support Bithumb’s position, since the promotion did not promise such large BTC rewards.$STG
Now, the main legal question is whether users were aware that the payout was an error before they decided to sell. 💥
#Bithumb #Bitcoin
🚨 UPDATE: Bithumb Users Could Be Asked to Return BTC Sent by Mistake
Regulators say that users who received Bitcoin during Bithumb’s recent incident — and later sold it — might be legally required to give it back.
Legal experts explain that under “unjust enrichment” laws, the case may support Bithumb, since the promotion did not promise such a large BTC payout.
The main legal question now is whether users were aware that the Bitcoin was sent in error before they decided to sell it.
$NIL $ZRO $STG
#Bithumb #BTC #CryptoNews #CryptoUpdate #Regulation
Regulators say that users who received Bitcoin during Bithumb’s recent incident — and later sold it — might be legally required to give it back.
Legal experts explain that under “unjust enrichment” laws, the case may support Bithumb, since the promotion did not promise such a large BTC payout.
The main legal question now is whether users were aware that the Bitcoin was sent in error before they decided to sell it.
$NIL $ZRO $STG
#Bithumb #BTC #CryptoNews #CryptoUpdate #Regulation
🚨 BREAKING CRYPTO STORY — MASSIVE BITCOIN ERROR AT BITHUMB
🇰🇷 South Korea’s 2ndlargest exchange accidentally credited users with 620,000 BTC (~$40 bn) during a promotional event — far more than intended.
📍 The event (Feb 6, 2026):
• Bithumb meant to give users a small reward in Korean won (~₩2,000 ≈ $1.40).
• Instead, due to a clerical unit entry mistake, the system credited 620,000 BTC into hundreds of accounts.
⚠️ The error briefly allowed phantom Bitcoin 🔄 to appear on balances and even trade in the internal order book, causing a price slump of up to ~17 % on Bithumb before it froze trades and withdrawals.
📊 RECOVERY & IMPACT
✔ Bithumb recovered ~99.7 % of the 620,000 BTC after freezing accounts and reversing the credits — most of the phantom BTC disappeared from the system.
✔ About 1,788 BTC (~$125 M) were sold / withdrawn before the freeze, and roughly 125 BTC (~$9 M) remain unrecovered.
✔ Regulators view the incident as a systemic risk issue, leading to investigations and emergency hearings by South Korea’s Financial Supervisory Service (FSS).
📌 Officials have said the glitch isn’t a hack — it was a human + system control error, exposing deep weaknesses in internal exchange accounting and verification processes.
📌 KEY TAKEAWAYS
• A simple data entry error turned into a ~$40 bn crypto mistake.
• Nearly all funds were recovered, but a small portion remains unrecovered.
• Regulators are holding hearings & probing exchange safeguards.
• The case highlights risks of internal controls on centralized platforms.
— Aswath Ravindran
#CryptoNews #bitcoin #Bithumb #error #blockchain
🇰🇷 South Korea’s 2ndlargest exchange accidentally credited users with 620,000 BTC (~$40 bn) during a promotional event — far more than intended.
📍 The event (Feb 6, 2026):
• Bithumb meant to give users a small reward in Korean won (~₩2,000 ≈ $1.40).
• Instead, due to a clerical unit entry mistake, the system credited 620,000 BTC into hundreds of accounts.
⚠️ The error briefly allowed phantom Bitcoin 🔄 to appear on balances and even trade in the internal order book, causing a price slump of up to ~17 % on Bithumb before it froze trades and withdrawals.
📊 RECOVERY & IMPACT
✔ Bithumb recovered ~99.7 % of the 620,000 BTC after freezing accounts and reversing the credits — most of the phantom BTC disappeared from the system.
✔ About 1,788 BTC (~$125 M) were sold / withdrawn before the freeze, and roughly 125 BTC (~$9 M) remain unrecovered.
✔ Regulators view the incident as a systemic risk issue, leading to investigations and emergency hearings by South Korea’s Financial Supervisory Service (FSS).
📌 Officials have said the glitch isn’t a hack — it was a human + system control error, exposing deep weaknesses in internal exchange accounting and verification processes.
📌 KEY TAKEAWAYS
• A simple data entry error turned into a ~$40 bn crypto mistake.
• Nearly all funds were recovered, but a small portion remains unrecovered.
• Regulators are holding hearings & probing exchange safeguards.
• The case highlights risks of internal controls on centralized platforms.
— Aswath Ravindran
#CryptoNews #bitcoin #Bithumb #error #blockchain
The Bithumb ‘Ghost Bitcon’ fiasco was a wild ride. 620,000 BTC accidentally distributed? That’s 3% of the supply 🤯. Although 99.7% has been recovered,the market is still shaking off the FUD. Bernstein analyst are doubling down on their $150K year end target. While the crowd is in “Extreme Fear”,i”m watching the whales.🐳. Buy the blood,or wait for more clarity?📉. #bithumb $BTC
Bithumb’s Bitcoin Overpayment: What the Incident Reveals About Exchange Risk
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● A breakdown of Bithumb’s 620,000 BTC error, how it was contained, management.
Bithumb’s Bitcoin Overpayment: What Really Happened and Why It Matters
How a 620,000 BTC Error Shook the Market—and What Traders Should Learn
Introduction
Crypto markets move fast, but sometimes operational mistakes move even faster. On February 6, South Korean exchange Bithumb accidentally distributed 620,000 Bitcoin during an event reward payout. Within minutes, Bitcoin prices briefly plunged, panic selling followed, and the exchange was forced into emergency controls.
This incident wasn’t a hack. It was a system and human error—and that distinction matters.
What Happened
Bithumb confirmed the issue was caused by a quantity input error during an internal reward distribution. Its automated monitoring system flagged abnormal activity within 20 minutes, and withdrawals were fully blocked within 35 minutes.
As a result, 618,212 BTC (99.7%) was successfully recovered. Most of the remaining BTC had already been sold internally, and over 93% of those funds were later reclaimed. No external wallet transfers were confirmed.
How Bithumb Responded
The exchange moved quickly on damage control:
110% compensation for users who panic-sold during the crash window
KRW 20,000 compensation for all active users during the incident
Zero trading fees for 7 days
A permanent KRW 100 billion customer protection fund
Bithumb also announced stronger multi-step payment verification and an upgraded AI-based transaction monitoring system.
Why This Matters for Traders
This event highlights a key reality: exchange risk isn’t only #Bithumb #peacecryptotrading #writetoearn
S
● A breakdown of Bithumb’s 620,000 BTC error, how it was contained, management.
Bithumb’s Bitcoin Overpayment: What Really Happened and Why It Matters
How a 620,000 BTC Error Shook the Market—and What Traders Should Learn
Introduction
Crypto markets move fast, but sometimes operational mistakes move even faster. On February 6, South Korean exchange Bithumb accidentally distributed 620,000 Bitcoin during an event reward payout. Within minutes, Bitcoin prices briefly plunged, panic selling followed, and the exchange was forced into emergency controls.
This incident wasn’t a hack. It was a system and human error—and that distinction matters.
What Happened
Bithumb confirmed the issue was caused by a quantity input error during an internal reward distribution. Its automated monitoring system flagged abnormal activity within 20 minutes, and withdrawals were fully blocked within 35 minutes.
As a result, 618,212 BTC (99.7%) was successfully recovered. Most of the remaining BTC had already been sold internally, and over 93% of those funds were later reclaimed. No external wallet transfers were confirmed.
How Bithumb Responded
The exchange moved quickly on damage control:
110% compensation for users who panic-sold during the crash window
KRW 20,000 compensation for all active users during the incident
Zero trading fees for 7 days
A permanent KRW 100 billion customer protection fund
Bithumb also announced stronger multi-step payment verification and an upgraded AI-based transaction monitoring system.
Why This Matters for Traders
This event highlights a key reality: exchange risk isn’t only #Bithumb #peacecryptotrading #writetoearn
أكبر "غلطة مطبعية" في تاريخ الكريبتو! 🚨🇰🇷
منصة Bithumb الكورية وزعت 40 مليار دولار بيتكوين على العملاء "بالغلط".. الواحد نزل له 2000 بيتكوين بدل دولار ونص!
المنصة لحقت نفسها ورجعت 99% من الفلوس، وعوضت الناس بـ 13 دولار. تفتكروا الـ 13 دولار دول يداووا جرح واحد شاف نفسه ملياردير لمدة نص ساعة؟ 😂
لو مكانهم كنت هتحاول تسحب الفلوس ولا هترجعها بضمير؟ قولولنا في التعليقات!
#كريبتو #بيتكوين #Bithumb #BinanceSquare
منصة Bithumb الكورية وزعت 40 مليار دولار بيتكوين على العملاء "بالغلط".. الواحد نزل له 2000 بيتكوين بدل دولار ونص!
المنصة لحقت نفسها ورجعت 99% من الفلوس، وعوضت الناس بـ 13 دولار. تفتكروا الـ 13 دولار دول يداووا جرح واحد شاف نفسه ملياردير لمدة نص ساعة؟ 😂
لو مكانهم كنت هتحاول تسحب الفلوس ولا هترجعها بضمير؟ قولولنا في التعليقات!
#كريبتو #بيتكوين #Bithumb #BinanceSquare
$40B Crypto Credit Error Shakes Bithumb as Regulators Launch Probe $BTC $ETH $USDC
#Bithumb #Bitcoin #cryptoexchange #BTCtrading #digitalassets
South Korean cryptocurrency exchange Bithumb is under regulatory scrutiny after a major internal error led to the accidental crediting of roughly $40 billion worth of Bitcoin to user accounts. The issue began during a small promotional payout when an employee mistakenly entered rewards in Bitcoin instead of Korean won. As a result, hundreds of users briefly saw large Bitcoin balances appear in their accounts.
The exchange identified the problem within about 20 minutes, but during that window, some users managed to trade portions of the mistakenly credited assets. Bithumb reported that although thousands of Bitcoins were sold internally, none were actually transferred out of the platform’s custody. The company says it has already recovered most of the affected value and covered the remainder using its own reserves.
South Korea’s Financial Supervisory Service has started on-site inspections and may open a formal investigation if rule violations are confirmed. Officials noted that the incident highlights weaknesses in internal ledger controls used by centralized exchanges, where trades are recorded off-chain before final settlement.
In response, Bithumb announced tighter safeguards, including multi-step approval procedures for asset distributions. Industry regulators and exchange alliances are now pushing for stricter control standards similar to those used in traditional finance.
#Bithumb #Bitcoin #cryptoexchange #BTCtrading #digitalassets
South Korean cryptocurrency exchange Bithumb is under regulatory scrutiny after a major internal error led to the accidental crediting of roughly $40 billion worth of Bitcoin to user accounts. The issue began during a small promotional payout when an employee mistakenly entered rewards in Bitcoin instead of Korean won. As a result, hundreds of users briefly saw large Bitcoin balances appear in their accounts.
The exchange identified the problem within about 20 minutes, but during that window, some users managed to trade portions of the mistakenly credited assets. Bithumb reported that although thousands of Bitcoins were sold internally, none were actually transferred out of the platform’s custody. The company says it has already recovered most of the affected value and covered the remainder using its own reserves.
South Korea’s Financial Supervisory Service has started on-site inspections and may open a formal investigation if rule violations are confirmed. Officials noted that the incident highlights weaknesses in internal ledger controls used by centralized exchanges, where trades are recorded off-chain before final settlement.
In response, Bithumb announced tighter safeguards, including multi-step approval procedures for asset distributions. Industry regulators and exchange alliances are now pushing for stricter control standards similar to those used in traditional finance.
Bithumb’s $43B Mistake: Why the FSS is Stepping In 🚨
The crypto world is reeling after South Korea’s second-largest exchange, Bithumb, turned a routine marketing campaign into a $43 billion nightmare. On February 6, 2026, an employee intended to reward users with 2,000 Korean won (~$1.40) but accidentally entered the unit as BTC.
In an instant, 695 users were credited with 2,000 BTC each. Collectively, the exchange "created" 620,000 "ghost bitcoins"—roughly 3% of the total global supply—out of thin air.
🔍 Ledger vs. Reality
This wasn’t a hack or a blockchain exploit; it was a catastrophic failure of internal controls.
The "Ghost" Factor: The 620,000 BTC existed only on Bithumb’s internal accounting ledger. In reality, the exchange holds fewer than 43,000 BTC in its actual reserves.
The Fallout: Before the exchange could freeze accounts, some users sold their "windfall," causing a localized flash crash on Bithumb as prices plummeted 18% below global market rates.
🏛️ The FSS Probe
South Korea's Financial Supervisory Service (FSS) has launched an emergency on-site inspection. Regulators are rightfully asking: How does a system allow the distribution of assets that do not exist? This incident has exposed a "regulatory blind spot" in how centralized exchanges (CEXs) manage their internal books versus their actual on-chain custody.
💡 The Lesson for Traders
This is a wake-up call regarding the "Glass House" nature of CEXs. While Bithumb has recovered 99.7% of the coins, the fact that "phantom" assets could move the market highlights the urgent need for real-time, automated reserve audits.
Does this prove we need stricter, real-time exchange audits, or is "Not your keys, not your coins" the only real solution? 👇
#Bithumb
The crypto world is reeling after South Korea’s second-largest exchange, Bithumb, turned a routine marketing campaign into a $43 billion nightmare. On February 6, 2026, an employee intended to reward users with 2,000 Korean won (~$1.40) but accidentally entered the unit as BTC.
In an instant, 695 users were credited with 2,000 BTC each. Collectively, the exchange "created" 620,000 "ghost bitcoins"—roughly 3% of the total global supply—out of thin air.
🔍 Ledger vs. Reality
This wasn’t a hack or a blockchain exploit; it was a catastrophic failure of internal controls.
The "Ghost" Factor: The 620,000 BTC existed only on Bithumb’s internal accounting ledger. In reality, the exchange holds fewer than 43,000 BTC in its actual reserves.
The Fallout: Before the exchange could freeze accounts, some users sold their "windfall," causing a localized flash crash on Bithumb as prices plummeted 18% below global market rates.
🏛️ The FSS Probe
South Korea's Financial Supervisory Service (FSS) has launched an emergency on-site inspection. Regulators are rightfully asking: How does a system allow the distribution of assets that do not exist? This incident has exposed a "regulatory blind spot" in how centralized exchanges (CEXs) manage their internal books versus their actual on-chain custody.
💡 The Lesson for Traders
This is a wake-up call regarding the "Glass House" nature of CEXs. While Bithumb has recovered 99.7% of the coins, the fact that "phantom" assets could move the market highlights the urgent need for real-time, automated reserve audits.
Does this prove we need stricter, real-time exchange audits, or is "Not your keys, not your coins" the only real solution? 👇
#Bithumb
🚨 ISOLATED STORY: The "Phantom Bitcoin" Crisis at Bithumb
While the public headline is a "fat-finger error," the breaking, non-public development circulating among institutional desks is that this is actually a solvency crisis involving "Paper Bitcoin."
1. The Official Narrative (What everyone knows)
Bithumb, a major South Korean exchange, accidentally credited 620,000 BTC (approx. $43 billion) to user accounts during a "Random Box" promotional event. The exchange claims it was a simple data entry error where an employee entered "Bitcoin" instead of "Korean Won" as the reward unit.
2. The "Unpublished" Breaking Intel (The Alpha)
The Financial Supervisory Service (FSS) has just escalated its probe to a "Formal Investigation" as of this hour.
Sources close to the investigation indicate the regulator has discovered a critical systemic failure: Bithumb’s internal ledger allowed the creation of Bitcoin that did not exist in their cold wallets.
The Fear: This confirms the existence of "Phantom Bitcoin" (or naked shorting) on the exchange. The 620,000 BTC credited was 15x the exchange's entire actual Bitcoin holdings (approx. 42,000 BTC).
The Contagion: The market is crashing not because of the error itself, but because institutions are now panic-selling to audit other exchanges, fearing that "Paper Bitcoin" is widespread across the Asian crypto market.
3. Immediate Market Impact
Price: This panic has driven Bitcoin below $60,000 and Ethereum to ~$2,150.
User Alert (ETH Long): I recall you opened a 20x Long on ETH in January. With ETH plummeting to the $2,150 range today, this position is at critical risk of liquidation if it hasn't been closed already. The "wick" down was violent and driven by this specific Bithumb liquidation cascade.
What to watch next👇
The FSS is reportedly preparing to audit Upbit and Korbit next.
If they announce a probe into Upbit (South Korea's largest exchange), we could see another double-digit percentage drop immediately.
#Write2Earn #Bithumb #BitcoinCrash $BTC #BinanceSquare
While the public headline is a "fat-finger error," the breaking, non-public development circulating among institutional desks is that this is actually a solvency crisis involving "Paper Bitcoin."
1. The Official Narrative (What everyone knows)
Bithumb, a major South Korean exchange, accidentally credited 620,000 BTC (approx. $43 billion) to user accounts during a "Random Box" promotional event. The exchange claims it was a simple data entry error where an employee entered "Bitcoin" instead of "Korean Won" as the reward unit.
2. The "Unpublished" Breaking Intel (The Alpha)
The Financial Supervisory Service (FSS) has just escalated its probe to a "Formal Investigation" as of this hour.
Sources close to the investigation indicate the regulator has discovered a critical systemic failure: Bithumb’s internal ledger allowed the creation of Bitcoin that did not exist in their cold wallets.
The Fear: This confirms the existence of "Phantom Bitcoin" (or naked shorting) on the exchange. The 620,000 BTC credited was 15x the exchange's entire actual Bitcoin holdings (approx. 42,000 BTC).
The Contagion: The market is crashing not because of the error itself, but because institutions are now panic-selling to audit other exchanges, fearing that "Paper Bitcoin" is widespread across the Asian crypto market.
3. Immediate Market Impact
Price: This panic has driven Bitcoin below $60,000 and Ethereum to ~$2,150.
User Alert (ETH Long): I recall you opened a 20x Long on ETH in January. With ETH plummeting to the $2,150 range today, this position is at critical risk of liquidation if it hasn't been closed already. The "wick" down was violent and driven by this specific Bithumb liquidation cascade.
What to watch next👇
The FSS is reportedly preparing to audit Upbit and Korbit next.
If they announce a probe into Upbit (South Korea's largest exchange), we could see another double-digit percentage drop immediately.
#Write2Earn #Bithumb #BitcoinCrash $BTC #BinanceSquare
🚨 Crypto Exchange Shock 🚨
Reports claim South Korean exchange Bethumb accidentally distributed over $40B worth of #Bitcoin during a promotional reward.
Within minutes, panic selling hit the exchange.
🔹 620,000 BTC mistakenly sent
🔹 99.7% reportedly recovered
🔹 Trading & withdrawals restricted for affected users
This isn’t just about a mistake — it’s a reminder of how fragile market confidence can be and why exchange risk still matters.
Centralized systems move fast… but mistakes move faster.
What’s your take — FUD or a serious warning? 👇
#Bitcoin #CryptoNews #Bithumb #ExchangeRisk
Reports claim South Korean exchange Bethumb accidentally distributed over $40B worth of #Bitcoin during a promotional reward.
Within minutes, panic selling hit the exchange.
🔹 620,000 BTC mistakenly sent
🔹 99.7% reportedly recovered
🔹 Trading & withdrawals restricted for affected users
This isn’t just about a mistake — it’s a reminder of how fragile market confidence can be and why exchange risk still matters.
Centralized systems move fast… but mistakes move faster.
What’s your take — FUD or a serious warning? 👇
#Bitcoin #CryptoNews #Bithumb #ExchangeRisk
$43 Billion “Fat Finger” Error Hits South Korea!
Big news!
South Korean exchange Bithumb accidentally transferred $43 billion to users yes, you read that right. 😳
This is being called the largest human error in crypto history. An investigation has already begun, but the market sentiment has been shaken significantly.
#SouthKoreaCrypto #SouthKorea #crypto #Bithumb #BinanceSquare $BNB
$XRP
$USDC
Big news!
South Korean exchange Bithumb accidentally transferred $43 billion to users yes, you read that right. 😳
This is being called the largest human error in crypto history. An investigation has already begun, but the market sentiment has been shaken significantly.
#SouthKoreaCrypto #SouthKorea #crypto #Bithumb #BinanceSquare $BNB
$XRP
$USDC
❕ South Korea launches probe into Bithumb over $43B fat-finger incident
🔄 Earlier: Bithumb recovered 618,212 BTC.
#SouthKorea
#Bithumb
$BTC
🔄 Earlier: Bithumb recovered 618,212 BTC.
#SouthKorea
#Bithumb
$BTC
Bithumb’s Bitcoin Mistake Sparks Major Industry Talk
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
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
Bithumb Mistakenly Credits 620,000 BTC
During a promo event Bithumb accidentally credited users with 620,000 BTC instead of Korean won due to a staff error...
The exchange froze accounts within 35 minutes and recovered most funds. some BTC were sold or withdrawn.
South Korea’s regulator has launched a full investigation..
⚠️ Possible fines or sanctions ahead.
Short-term volatility risk
#USTechFundFlows
#WhaleDeRiskETH
#GoldSilverRally
#Bithumb
#BTC走势分析
During a promo event Bithumb accidentally credited users with 620,000 BTC instead of Korean won due to a staff error...
The exchange froze accounts within 35 minutes and recovered most funds. some BTC were sold or withdrawn.
South Korea’s regulator has launched a full investigation..
⚠️ Possible fines or sanctions ahead.
Short-term volatility risk
#USTechFundFlows
#WhaleDeRiskETH
#GoldSilverRally
#Bithumb
#BTC走势分析
The "Bithumb" Aftershock & The $69K Battle: Is the Local Bottom In?
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
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
🚨 Major South Korea Crypto Incident - Bithumb’s $40B Mistake
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
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
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