South Korean cryptocurrency exchange Bithumb has officially confirmed that an operational error led to an abnormal Bitcoin payout during a promotional event.
The incident triggered a brief but sharp price dislocation on the platform before markets stabilized within minutes.
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Bithumb Confirms Accidental Bitcoin Payout
In a statement, Bithumb apologized to users, acknowledging that “an abnormal amount of Bitcoin was paid to some customers” during the event, which caused temporary volatility as recipients sold the assets.
According to Bithumb, its internal monitoring systems quickly detected the abnormal transactions. The platform responded by restricting trading activity on the affected accounts, which helped contain the disruption.
The clarification comes after Bitcoin briefly traded significantly below global market rates on Bithumb, fueling speculation about the cause of the sudden price drop.
BTC/KRW vs BTC/USDT on Binance and Coinbase. Source: TradingViewBithumb emphasized that the incident was not the result of a cyberattack or security breach.
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Impact on Bithumb Customer Funds
The company also reassured users that customer funds remain safe and that core services are operating normally.
Importantly, Bithumb indicated that no customers suffered losses as a result of the incident, noting that it is continuing to review the situation and will disclose further details as necessary.
The episode highlights how operational errors, even when quickly resolved, can trigger sharp short-term price distortions in crypto markets, particularly on individual exchanges where liquidity conditions differ from global averages.
Bithumb concluded its statement with another apology, saying it would strengthen safeguards and continue working to provide a stable trading environment.
Source: https://beincrypto.com/bithumb-explains-accidential-2000-btc-payout/
