We know that cryptocurrency exchanges sometimes organize events to increase trading for new or existing users, offering small rewards. One exchange accidentally made its users rich.
Bithumb Narrowly Escapes Bankruptcy
After an event, the exchange intended to give a reward of 2000 won, or $1.37, to a total of 695 users. However, due to a software engineer's error, it mistakenly sent out 2000 Bitcoin as a reward. With a total of 620,000 Bitcoin distributed, the exchange suddenly incurred a loss of 40 billion dollars.
Upon realizing the error, the exchange took swift action and recovered 99.7% of the distributed rewards. However, users managed to withdraw approximately 0.3% of the assets. This translates to a loss of around 120 million dollars.
In a statement, the exchange apologized to its users and announced that it would pay 20,000 won in compensation to those affected by the error. Furthermore, the head of South Korea's regulatory body described the incident as a scandal and announced that an investigation would be launched. Following the incident, Bitcoin experienced a brief drop in price.
0 Comments: