Bithumb accidentally distributes $40B Bitcoin
Analysis based on 13 articles · First reported Feb 07, 2026 · Last updated Feb 07, 2026
The accidental distribution of Bitcoin by Bithumb caused a brief 17% slump in Bitcoin prices on its platform, highlighting the volatility and potential risks in the cryptocurrency market. South Korean financial regulators, including the Financial Services Commission, announced an inspection of Bithumb and other crypto exchanges, which could lead to increased regulatory oversight for the industry.
South Korean cryptocurrency exchange Bithumb accidentally distributed over $40 billion worth of Bitcoin to 695 customers as promotional rewards on Friday, February 6, 2026. The exchange had intended to give small cash rewards of 2,000 South Korea — South Korean won, but winners instead received at least 2,000 Bitcoin each. Bithumb apologized for the mistake and managed to recover 99.7% of the 620,000 bitcoins, valued at approximately $44 billion, within 35 minutes. The incident caused Bitcoin prices on Bithumb to briefly slump by 17% before recovering. South Korea's financial regulators, including the Financial Services Commission, expressed concerns about the vulnerabilities of virtual assets and announced an on-site inspection of Bithumb and other crypto exchanges.
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