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- A $43 billion Bitcoin whoopsie 🤭
A $43 billion Bitcoin whoopsie 🤭
South Korean crypto exchange Bithumb accidentally handed out billions in Bitcoin this week, briefly tanking the price on its platform.
📝 What you need to know
We’ve all heard about so-called fat-finger mistakes where someone accidentally types the wrong message or transfers too much money, but a $43 billion Bitcoin fumble? That’s an all-timer.
South Korean crypto exchange Bithumb admitted on Friday that it accidentally gave away billions of dollars’ worth of Bitcoin to customers, sending as much as 2,000 BTC—about $139 million worth, as of this writing—each to hundreds of customers in a giveaway, rather than dropping them a couple bucks’ worth of local currency.
All told, Bithumb credited customers with some $43 billion worth of Bitcoin, most of which it was able to quickly recover—though it’s still working to claw back funds that users sold once they saw the life-changing windfall in their accounts. The price of Bitcoin briefly dropped to $55,000 on the exchange following those sales.
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