Post #11914

Bithumb's $43B Fat-Finger Error Goes to Court South Korean exchange Bithumb filed a lawsuit to freeze accounts of users who refused to return BTC received by mistake. On February 6, a staff member typed "BTC" instead of "KRW" during a promo campaign. Instead of 620,000 KRW (~$460), Bithumb credited 620,000 BTC (~$43B) to 249 winners - 13x its actual holdings of ~46,000 BTC. Users sold ~1,788 BTC before accounts were frozen 35 minutes later. BTC/KRW crashed 17% on Bithumb. The exchange recovered 99.7% of credited BTC and 93% of sold coins. 7 BTC (~$496K) remain unreturned - now going to court. South Korea's FSS launched a full-scale investigation. Lawmakers are pushing the Digital Asset Basic Act to impose bank-level compliance on crypto exchanges. 🔗theblock.co/post/396812/bithumb-legal-action-bitcoin-fat-finger Top 7 Ecosystem:Alpha| X | Aggregator