Bithumb, one of South Korea’s leading cryptocurrency exchanges, has successfully resolved a significant operational incident involving the accidental overpayment of Bitcoin (BTC) to certain customers. The error, which occurred during a transaction period, resulted in a substantial amount of BTC being mistakenly disbursed.
Following immediate identification of the error, the exchange launched a rapid effort to retrieve the funds. Bithumb confirmed that its recovery operations were highly effective, managing to claw back approximately 99.7% of the total overpaid Bitcoin. This near-total recovery was achieved through swift communication and cooperation with the receiving users.
For the small remaining fraction of funds that could not be immediately recovered, Bithumb announced that it has taken measures to cover the financial gap entirely using its own corporate reserves. By assuming full financial responsibility for the remaining shortfall, Bithumb ensured that the integrity of its operational finances and the security of customer assets were maintained. This decisive action highlights the exchange’s commitment to effective operational risk management and maintaining user trust in the event of critical system errors.
Source: Bithumb claws back 99.7% of overpaid Bitcoin, covers remaining shortfall
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