South Korean financial authorities have initiated a formal investigation into Bithumb, one of the country’s largest cryptocurrency exchanges, following a massive ‘fat-finger’ trading incident estimated at approximately $43 billion (60 trillion won). The probe, led by the Financial Supervisory Service (FSS), focuses on a sudden and abnormal surge in trading volume that occurred due to a technical error, raising concerns regarding the exchange’s internal control systems and market stability. Regulators are examining whether the incident was a result of a system glitch or a failure in oversight related to external liquidity providers. This investigation highlights the increasing pressure on South Korean digital asset platforms to implement more robust risk management frameworks to protect investors from extreme market volatility caused by operational errors.
Source: South Korea launches probe into Bithumb over $43 billion fat-finger incident
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