Bithumb Mistakenly Sends Bitcoin to Users, Causing ‘Temporary Fluctuation’ in BTC Price on Exchange

South Korean cryptocurrency exchange Bithumb confirmed on Tuesday that it had mistakenly distributed a significant quantity of Bitcoin (BTC) to user accounts due to an internal system error. The incident, which occurred during a routine system check, saw various amounts of BTC transferred to a number of user wallets, prompting immediate confusion among traders and leading to localized market instability. This sudden, unintended distribution caused notable volatility within the exchange’s BTC trading pairs. BTC/KRW prices on the Bithumb platform experienced a sharp, albeit temporary, fluctuation—deviating noticeably from the global average price—as the order books reacted to the unexpected supply. The exchange promptly halted deposits and withdrawals related to BTC and issued an official statement acknowledging the operational mistake. Bithumb assured users that the issue was purely internal, stating that all transferred funds would be reversed and recovered without impacting user principal balances. The exchange emphasized that no external security breach had occurred and that customer assets remained safe. Trading activities normalized shortly after the reversal process was initiated, and Bithumb committed to implementing stricter internal controls to prevent similar future occurrences.

Source: Bithumb mistakenly sends bitcoin to users, causing ‘temporarily fluctuation’ in BTC price on exchange