Bithumb says system flaws led to US$40 billion errorReuters, SEOULSouth Korean cryptocurrency exchange Bithumb yesterday said that serious flaws had left its internal system susceptible to potential sabotage and failed to prevent an erroneous transfer of more than US$40 billion in assets last week. The nation’s second-largest virtual asset exchange said it accidentally gave away about 620,000 bitcoins to customers during a promotional event, instead of 620,000 won (US$428), triggering a 17 percent slump in bitcoin’s price. A Bithumb exchange office in Seoul is pictured on Friday last week. Photo: Bloomberg“We are acutely aware of the deficiency in internal system control,” Lee told a parliamentary committee hearing on the incident that took place on Friday last week. Lawmakers expressed dismay at the failure of government and corporate oversight in the nation’s virtual assets market, which is one of the most active in the world by trading volume.

Source: Taipei Times February 11, 2026 17:14 UTC