South Korean Crypto Exchange Bithumb Accidentally Sends Billions in Bitcoin to Users

South Korean cryptocurrency exchange Bithumb mistakenly credited approximately 620,000 bitcoins, worth around 40 billion won, to 695 users during a promotional campaign intended to distribute small cash rewards. The error, caused by a technical glitch, led to a brief market sell-off and forced Bithumb to suspend trading and withdrawals for affected accounts. The exchange recovered 99.7% of the bitcoins and emphasized the incident was not due to hacking. South Korea's financial regulator is reviewing the case.