Korean Central Bank: The virtual asset industry needs to introduce a mechanism similar to a "circuit breaker"

BlockBeats News, April 13th, according to Newsis, the Bank of Korea stated that to prevent a recurrence of the incident previously referred to as the "Bithumb Mistake Incident" — which involved the mistaken transfer of bitcoins worth hundreds of trillion Korean won — it is necessary to introduce a mechanism similar to a "circuit breaker" in the virtual asset industry.

In its annual payment settlement report released on the 13th, the Bank of Korea included a review of the incident from February this year: at that time, during a bonus distribution event, Bithumb mistakenly inputted bitcoin instead of Korean won as the distribution unit due to an employee's operational error. As a result, bitcoins worth approximately 620,000 won were supposed to be distributed, but instead, 620,000 bitcoins were mistakenly sent (equivalent to about 600 trillion won).