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Bithumb Says It Has Recovered 99.7% of Erroneous 620,000-Bitcoin Giveaway

South Korea’s financial regulator is weighing on-site inspections after the exchange’s payout error.

Overview

  • An operational mistake during a Friday promotion credited about 620,000 BTC to users, an amount media valued near €35.7 billion.
  • Local reports say an employee entered “BTC” instead of Korean won, sending thousands of bitcoins per account instead of small cash rewards.
  • Bithumb suspended transactions for affected customers and recovered assets, including roughly 1,663 BTC that recipients had already sold.
  • The exchange reports a small remainder still under recovery, with some coverage citing around 125 BTC outstanding.
  • Regulators warned of control weaknesses and signaled possible on-site checks, as reports differed on how many accounts were impacted.