Bithumb, one of Korea’s leading centralized exchanges (CEX), made a multi-billion dollar mistake overnight when management accidentally sent 2,000 BTC, worth almost $140 million, to more than 200 users instead of 2,000 WON, which is worth less than $1.5. As users received the BTC, they immediately attempted to sell and offramp funds, briefly sending BTC on Bithumb almost 18% below the market price according to LookOnchain. Bithumb immediately recognized abnormal transactions through its internal control system and quickly restricted transactions to related accounts.
According to The Chosun Daily, most of the 240 users who partook in Bithumb’s Random Box promo event received 2,000 BTC in each of their wallets, and roughly $3 billion was withdrawn from the exchange. The Financial Services Commission (FSC) and Financial Supervisory Service (FSS) in Korea are actively investigating the incident due to its magnitude. The exact number of BTC distributed has not been disclosed, but based on information provided by Chosun, the airdrop could have been worth up to $30 billion.
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