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Bithumb explains the reason for the erroneous Bitcoin credits to customers., 2026/02/07 10:09:56
The South Korean cryptocurrency exchange Bithumb has stated that the accidental allocation of 2000 bitcoins to users during a promotional event was due to an operational error.
Bithumb has apologized to its clients for the incident and reported that its monitoring systems quickly identified the unusual transactions. Following this, the exchange promptly restricted activities on the affected accounts.
“Thanks to these measures, the bitcoin price on Bithumb returned to previous levels within five minutes, and the liquidation prevention system functioned normally—mass liquidations due to the abnormal bitcoin price were successfully avoided,” the exchange stated.
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Bithumb emphasized that this incident was not related to a hacking attack. The company assured users that their funds are secure, key services are operating normally, and no clients were adversely affected by the glitch.
“We want to stress that the incident is not connected to any external breach or security violation. There are no issues with system protection or the management of client assets,” the exchange noted.
On February 6, Bithumb had planned to conduct a promotional event called “Mystery Box,” where users could receive rewards ranging from 20,000 to 50,000 South Korean won ($13.7–$34). Approximately 700 clients participated in the promotion, with around 240 opening a “Mystery Box.” Most of them received 2000 BTC in their personal wallets.
Some users managed to sell the received assets; however, 160 participants voluntarily returned about 400,000 bitcoins. The total amount withdrawn through the sale of the erroneously allocated bitcoins was approximately 3 billion South Korean won ($2.1 million). The Financial Services Commission of South Korea (FSC) classified the incident as serious and announced the initiation of an investigation.
Previously, the South Korean prosecution in Gwangju announced the start of an investigation into the theft of confiscated bitcoins worth 70 billion won (around $47.7 million) by local authorities.
