Bithumb: Platform Holds Over $200 Million in Crypto Assets in Dormant Accounts, Plans to Notify Customers and Assist with Account Recovery

BlockBeats News, January 2nd, the South Korean cryptocurrency exchange Bithumb discovered that over 20 million US dollars of customer assets in about 2.6 million accounts on the platform were in a dormant state. This disclosure is part of the exchange's dormant asset recovery initiative targeting users who have not logged in or traded for over a year.

Bithumb stated that the total balance of inactive accounts is approximately 291.6 billion Korean won (about 201.8 million US dollars), with some of the marked accounts being dormant for over a decade. The value of the largest dormant holding in a single account is approximately 2.84 million US dollars, with the longest dormant period being 4,380 days (nearly 12 years), and some inactive holdings have seen returns of over 61,000% (about 610 times). These data point to participants who entered the crypto space in the early stages of the market's first boom but never returned.

Bithumb plans to directly notify eligible customers and assist in the recovery of the accounts, positioning this action as part of a broader customer protection effort, including helping users rediscover assets they may have forgotten.