South Korean Exchange Bithumb Recovers Bitcoins After Transfer Error, Offers Compensation

South Korean cryptocurrency exchange Bithumb mistakenly transferred approximately 620,000 bitcoins, worth over Rs 3.62 lakh crore, to users during a promotional event due to an internal error. The exchange halted affected accounts within 35 minutes and recovered about 99.7% of the bitcoins. Panic selling caused a temporary 17% drop in bitcoin prices on Bithumb's platform. The company pledged full compensation to users who incurred losses, including an additional 10% and waived trading fees for a week. South Korean regulators are investigating the incident.