South Korea’s Financial Services Commission has launched a comprehensive investigation into cryptocurrency exchange Bithumb following a catastrophic system malfunction that resulted in the improper distribution of $40 billion worth of Bitcoin the exchange apparently never held in reserve. The incident, which occurred during a routine promotional event, has exposed critical vulnerabilities in South Korea’s rapidly expanding digital asset infrastructure.
The investigation centers on Bithumb's internal controls and asset management protocols after the exchange mistakenly credited users with 2,000 Bitcoin each instead
2026/02/09
