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Bithumb Fixes Bitcoin Payout Glitch After Sudden Price Swing

Key Takeaways

  • Bithumb corrected a promo error that sent extra Bitcoin to some users and caused a short price shift;
  • The exchange restored normal trading after it froze affected accounts and confirmed no customer losses;
  • Bithumb plans to implement new safeguards while continuing work to recover long-inactive user assets.​

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Bithumb Fixes Bitcoin Payout Glitch After Sudden Price Swing

Bithumb $1.79B reported an issue linked to a promotion that credited some users with the wrong amount of Bitcoin BTC $70,335.80 .

The exchange said the error resulted in a few accounts having unusually large balances. Some users began selling the BTC, which caused a brief price shift on the platform.

Bithumb stated that its internal systems detected the problem after it began. The exchange restricted the affected accounts and stopped further activity from them.

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Market prices returned to normal within a few minutes, and the company said the quick response prevented wider disruptions.

The exchange explained that the mistake did not come from hacking or a security breach. It also said that customers did not lose any assets. All trading, deposits, and withdrawals continue to operate without issues.

Bithumb said it manages customer funds carefully and plans to share more details on the steps it will take to prevent similar errors.

The company did not reveal the amount of Bitcoin involved. Some users on X claimed that certain accounts may have received about 2,000 Bitcoin.

This update followed news from January, when Bithumb announced it had found about $200 million in customer assets in accounts that had not shown any activity for more than a year.

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Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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