- Bithumb mistakenly credited 2,000 BTC to nearly 700 users on February 6.
- The exchange recovered 99.7% of the 620,000 BTC within hours of discovery.
- About 125 BTC, valued at $10M to $12M, remains unrecovered post-freeze.
South Korean exchange Bithumb faced an unusual incident when 620,000 BTC were mistakenly distributed during a promotional campaign on February 6, 2026. The exchange has now confirmed that it has recovered 99.7% of the Bitcoin mistakenly credited to users due to a data entry error.
Bithumb Recovers Bitcoin After Entry Error During Promotional Event
South Korean exchange Bithumb mistakenly distributed nearly 620,000 BTC during a promotional giveaway. An employee entered Bitcoin instead of Korean won as the unit for rewards, accidentally crediting 695 users with 2,000 BTC each instead of 2,000 KRW (roughly $1.40 USD). The total error amounted to over $130 million in digital assets.
According to a report shared by CryptosR_Us, the anomaly was detected within 20 minutes. Bithumb acted quickly, halting trading and withdrawals within 35 minutes. This move prevented further transfers or sales of the mistakenly sent Bitcoin, limiting the potential damage.
Over 99 Percent of Distributed Bitcoin Has Been Recovered
Bithumb has confirmed that 99.7% of the incorrectly credited Bitcoin—amounting to 618,212 BTC—has been recovered. Only 1,788 BTC were sold before the freeze, and 93% of that has already been retrieved by the exchange’s team.
About 125 BTC remain unrecovered, representing approximately $10 million to $12 million in market value. These funds are still being traced, though Bithumb has not confirmed if legal steps will be taken. No reports suggest major disruption to other operations during or after the event.
The exchange has not disclosed the full internal review but has taken steps to ensure similar input mistakes are prevented in future distributions.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
