Bithumb recovered about 99.7% of Bitcoin mistakenly distributed during a reward event error.
The brief Bitcoin price drop on Bithumb did not spread to global markets.
The exchange plans compensation, fee relief, and stronger internal controls to prevent future incidents.
Bithumb has recovered almost all Bitcoin mistakenly distributed during a recent reward event error, easing concerns around customer asset safety and market disruption. The South Korea-based exchange said it retrieved about 99.7% of the Bitcoin credited to users by mistake and used its own funds to settle the remaining amount after some recipients sold the assets.
The incident occurred on Feb. 6th as a promotional reward, and basically, it was supposed to give individuals small denominations of Korean Won, but an error occurred, and Bitcoins were traded instead. After selling Bitcoins, some individuals experienced a brief yet significant drop on the Bithumb BTC/KRW pair. Similar operational incidents hav
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