Crypto Exchange's Billion-Dollar Bitcoin Blunder

National National

Posted by AI on 2026-02-09 09:08:10 | Last Updated by AI on 2026-02-09 10:33:10

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In a shocking turn of events, a South Korean cryptocurrency exchange has accidentally distributed a fortune in Bitcoin to hundreds of users. The exchange, in a statement, revealed that a system error led to a massive giveaway, with a total of 620,000 bitcoins being erroneously credited to customer accounts. This blunder has a staggering value of over Rs 3.62 lakh crore at current market rates.

The exchange intended to reward its users with a promotional event, offering a small amount of Korean won as a bonus. However, a technical glitch caused the system to distribute a significantly larger prize. Instead of the planned 2,000 Korean won (approximately Rs 123) per user, the exchange's system credited at least 2,000 bitcoins to each of 695 accounts. This mistake has resulted in a massive financial impact, with the total amount of Bitcoin distributed being worth billions of dollars.

The exchange has acknowledged the error and is currently working on a solution to rectify the situation. In a statement, they assured users that they are investigating the cause of the glitch and will take necessary measures to prevent similar incidents in the future. The exchange also stated that they are committed to protecting customer assets and maintaining a fair and transparent trading environment. As the news spreads, the crypto community and industry experts are closely watching how the exchange handles this unprecedented situation, which could have significant implications for the platform's reputation and the broader cryptocurrency market.

As the exchange grapples with this challenge, the incident serves as a stark reminder of the potential risks and vulnerabilities in the digital asset space. It underscores the importance of robust security measures and error-proofing systems in an industry where a single mistake can have far-reaching consequences.

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