Altcoins News
By Jean-Luc Maracon
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A major blunder. The South Korean platform Bithumb accidentally sent 620,000 bitcoins to its users last Saturday, amounting to about 37 billion euros ending up in the wrong hands.
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The exchange has already apologized, but the damage is done. Customers saw their wallets skyrocket overnight without any action on their part.
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Bithumb suspended all transactions on February 7, 2026, to conduct its investigation. The announcement on their official site caused panic among users.
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Regulators are watching closely. The South Korean Ministry of Science and Technology is following the case.
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It's not just the authorities who are worried. Related coverage: CFTC Chair Selig Declares War on.
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Users are questioning whether their assets are truly safe. Bithumb sent them an email on February 8, 2026, to check their accounts and report any issues.
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Kim Min-jun, an affected user, fears tax complications: "I received bitcoins by mistake, but I'm worried about the taxes it will cost me.
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This isn't Bithumb's first trouble. In 2024, a glitch temporarily crashed their services. But transferring 620,000 bitcoins is unprecedented.
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The market reacted strangely. Bitcoin fell to 35,000 euros before stabilizing. Traders are watching every move, fearing the incident might undermine investor confidence.
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Bithumb plans a press conference on February 10, 2026, to address questions. But again, no details on what they will actually say.
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The technical error reveals major flaws in Bithumb's infrastructure, which manages over 8 million active users according to the latest figures from the Korea Blockchain…
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The affair could trigger a complete overhaul of crypto regulation in South Korea. The government has been working since 2025 on a strengthened bill to regulate digital assets.
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