Crash on the South Korean cryptocurrency exchange. It transferred EUR 37 billion to clients
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South Korean cryptocurrency exchange error. Translation company
Instead of symbolic bonuses of PLN 2,000. won, i.e. approximately EUR 1.15, amounts of approximately EUR 2,000 were transferred to the accounts of 695 customers. bitcoins per person. The exchange reacted after 35 minutes, blocking the possibility of performing operations on accounts to which the erroneous transfers were made.
In a statement published on Saturday, Bithumb apologized for the confusion, emphasizing that it was an internal operational error related to the distribution of prizes as part of a promotional event. The company assured that the incident was not related to a hacker attack or a breach of system security.
The mistake immediately affected bitcoin prices on the platform. Within a short period of time, the price of the cryptocurrency fell by 17%, from over 102 million won to approximately 81.1 million won for one bitcoin, causing panic selling among some investors.
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Bithumb reported that 99.7% was recovered. incorrectly transferred funds. The exchange is to cover the missing part from its own reserves, which will help avoid losses on the part of customers and restore settlement stability.
Deterioration of the situation on the cryptocurrency market
The cryptocurrency market is experiencing the strongest crash in four years. Bitcoin recently suffered its biggest daily decline since 2022, and has already lost more than half of its value since the end of September.
Ethereum, the second most important cryptocurrency, fell even more – by about 60%. For many investors, this is a brutal collision with reality after a period of euphoria, which was fueled by hopes for a cryptocurrency-friendly policy of the new Donald Trump administration.
