Bithumb Recovers 99.7% of Mistakenly Distributed 620,000 BTC
Bithumb announced on Feb. 7 it recovered 618,212 BTC, or 99.7% of the 620,000 BTC mistakenly distributed during a rewards campaign—equivalent to 2.95% of bitcoin's total supply. The exchange said its internal controls restricted trading and withdrawals for 695 customers within 35 minutes of the error, and confirmed none of the erroneously credited bitcoin was transferred to external addresses. Bithumb added that 93% of assets equivalent to 1,788 BTC that had been sold for KRW and other virtual assets has been recouped, with remaining assets still being processed. BlockBeats previously reported an employee issued 2,000 BTC instead of 2,000 KRW in rewards, causing bitcoin on the platform to briefly trade 10% below other markets.