South Korean Crypto Exchange Accidentally Gave Away $43 Billion Worth of Paper Bitcoin
Earlier today, reports surfaced regarding a jaw-dropping clerical error at South Korean crypto exchange Bithumb regarding a promotional reward being sent to some customers. According to some early accounts, the reward was supposed to be 2,000 Korean won, but the users were sent 2,000 bitcoin instead. At current prices, this amounts to a roughly $140 million giveaway. That would be bad. But it was apparently much worse.
Bithumb itself has confirmed the error and indicated 620,000 bitcoin (worth around $43 billion) was accidentally sent to 695 users. The amount was large enough to cause a temporary 10% downtick in the price of bitcoin on the exchange, as some of the customers who received the misallocated funds…
