Bithumb: To Compensate for Customer Losses Due to "Accidental Bitcoin Airdrop," Commits to Enhancing System and Processes

BlockBeats News, February 7th. 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 Services Commission's investigation. The team will prevent human errors from escalating 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, there was panic selling (trading under conditions unfavorable to customers). Bithumb believes this transaction was to protect its customers and plans to provide full compensation to affected customers, including additional compensation. Customer losses are estimated to be around 1 billion Korean won, approximately 680,000 US dollars.

Furthermore, Bithumb stated that they will establish a permanent 100 billion Korean won "Customer Protection Fund" to immediately rescue customer assets in case of accidents.

In today's update, Bithumb admitted to mistakenly airdropping 3% of the total Bitcoin supply to users, of which 99.7% has been recovered, and relevant improper profit accounts have been frozen.