South Korea's FSS opens full investigation into Bithumb over 620,000 BTC error

On Feb. 6, South Korea's Financial Supervisory Service escalated a routine review into a full investigation of Bithumb after the exchange mistakenly distributed 620,000 BTC worth about $43.1 billion to users. Bithumb has recovered most of the misallocated bitcoin, pledged 110% compensation on user losses, and proposed a 100 billion won protection fund, while the incident fuels political calls for tighter oversight of domestic crypto platforms.