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💥 Massive Bitcoin Blunder: $44 Billion Sent by Mistake

A huge operational error struck South Korea’s major crypto exchange Bithumb on February 6, 2026. During a promotional reward event meant to give small cash bonuses, the exchange accidentally credited customers with Bitcoin worth around $40 – $44 billion instead of the intended cash payout.

📉 What Happened
Bithumb planned to give small prizes (worth about 2,000 won, ~US $1.40) to users. Instead, due to a unit input mistake, it credited 620,000 BTC — worth roughly $44 billion — to hundreds of customer accounts.

The error affected around 695 users, with some accounts showing thousands of bitcoins.

The glitch triggered a sharp price drop on the exchange’s Bitcoin market as some recipients began selling their accidental windfalls.

🛠️ Rapid Response & Recovery
Bithumb restricted trading and withdrawals within about 35 minutes and managed to recover about 99.7 % of the misallocated Bitcoins.
However, a small amount — roughly 125 BTC (~$9 M) — remains unrecovered, as some users sold or withdrew portions of the accidental credits.

📊 Market & Regulatory Reaction
Bitcoin prices briefly slumped nearly 17 % on Bithumb before rebounding.

South Korea’s financial regulators, including the Financial Services Commission (FSC) and Financial Supervisory Service (FSS), have launched investigations into internal controls and risk management at the exchange following the error.

🧠 What This Means
This incident is one of the largest unintended Bitcoin transfers in history and highlights major risks in crypto exchange operations — especially around internal controls and human errors. It raises questions about how exchanges protect users and prevent catastrophic mistakes that can impact markets.

➡️ Does this incident weaken or strengthen confidence in centralised crypto platforms?
➡️ What would you have done as a user?😅

Drop your thoughts 👇

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