Bithumb: to Compensate Customers for Losses from "Accidental Bitcoin Airdrop," Pledges to Enhance System and Processes

BlockBeats News, February 7th, the South Korean exchange Bithumb announced that, regarding the "accidental Bitcoin airdrop" incident, the platform has reported to all relevant departments and is fully cooperating with the Financial Supervisory Service's investigation. The team will prevent human errors from evolving into accidents through a sound system and process.

The company will take full responsibility for customer losses in the incident. During the incident, due to a sharp market price drop, panic selling (trading under conditions unfavorable to customers) occurred. Bithumb believes that this transaction is its responsibility to protect customers and plans to provide full compensation to affected customers, including additional compensation. Customer losses are estimated to be approximately 1 billion Korean won, equivalent to 680,000 US dollars.

In addition, Bithumb stated that it will establish a permanent 100 billion Korean won "Customer Protection Fund" to immediately rescue customer assets in the event of an accident.

In today's news, Bithumb admitted to mistakenly airdropping 3% of the total Bitcoin to users and has now recovered 99.7% of the total amount, with relevant improper profit accounts frozen.