Bithumb Bitcoin Blunder: $1.3 Billion Error Leads to Investigation into Weak Financial Supervision

Bithumb’s CEO admitted past mistakes after the latest 620,000 BTC blunder, which has sparked further investigation into system errors. South Korea’s financial authorities have been criticized for failing to detect major flaws in Bithumb’s systems that led to an unprecedented Bitcoin error. Despite repeated inspections by the Financial Services Commission (FSC) and the Financial Supervisory […]

Crypto company accidentally sends $40 billion worth of bitcoin to users

A South Korean cryptocurrency exchange apologized Saturday after accidentally transferring more than $40 billion worth of bitcoin to users, briefly sparking a selloff on the platform.Bithumb said it accidentally sent 620,000 bitcoins, currently worth more than $40 billion, and blocked trading and withdrawals for the 695 affected users within 35 minutes after the error occurred […]