Korean Regulators Probe Bithumb Bitcoin Error Worth 60 Trillion Won

• Lyla Velez
• February 7, 2026
• News
• 0 Comments

Bithumb, South Korea’s second-largest crypto exchange, mistakenly credited 60 trillion won in Bitcoin during a promotional event on February 6, 2026, prompting regulatory investigation.

The error’s magnitude prompted regulatory scrutiny, highlighting vulnerabilities in promotional management within crypto exchanges and affecting market stability.

During a recent “Random Box” promotional event, Bithumb mistakenly distributed Bitcoin instead of Korean won, resulting in 2,000 BTC allocations to numerous users. The error led to substantial unintended withdrawals and has caught regulatory attention.

Financial authorities in South Korea, including the Financial Services Commission and Financial Supervisory Service, have initiated an emergency probe to investigate the error’s cause and execution. The event resulted in significant market reactions.

The error caused Bithumb’s Bitcoin price to drop between 10-22%, affecting market conditions globally. The exchange has since limited user activity, preventing further withdrawals until it recovers the mistakenly distributed funds.

The stakeholders involved include the Bithumb operational team, tasked with resolving the situation internally. The incident raises questions about the security measures and operational protocols of crypto exchanges.

“Given the massive scale of damages, we are treating the incident seriously and will thoroughly investigate the cause.” — Unnamed Financial Authority Official, Cryptopolitan

This incident illustrates the potential for technological errors to massively influence crypto markets and regulatory practices. Historical issues with Bithumb’s management show a pattern of operational challenges, raising concerns for its future operations.