Bithumb CEO admited past mistakes following the latest 620,000 BTC blunder which has prompting further investigations into system flaws.

South Korea’s financial authorities are facing criticism after failing to spot major flaws in Bithumb’s systems that led to an unprecedented Bitcoin error.

Despite repeated inspections by the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS), a vulnerability remained that allowed a single employee to trigger massive coin transfers without detection.

Bithumb Crypto Mishap

According to Rep. Kang Min-guk of the People Power Party, the FSC reviewed Bithumb once in 2022 and twice in 2025, while the FSS…