Key Takeaways:
South Korean cryptocurrency exchange Bithumb has filed a lawsuit to recover 620,000 Bitcoin mistakenly sent to users on February 6, 2026, in a clerical error valued at $44 billion.
The incident has prompted an inspection by South Korea's Financial Supervisory Service (FSS), a spokesperson confirmed, to assess the exchange's internal control mechanisms and virtual asset protection rules.
The error involved the distribution of 620,000 BTC, a substantial portion of the exchange's holdings, to an undisclosed number of users. While some funds were returned voluntarily, Bithumb is now pursuing legal action to reclaim the outstanding assets. The exchange has not disclosed the amount of Bitcoin that remains unreturned.
The blunder and subsequent lawsuit could inflict significant reputational damage on Bithumb, potentially leading to user withdrawals and increased competition from its primary rival, Upbit. The FSS inspection is expected to result in stricter operational and asset control regulations for all virtual asset service providers in South Korea, increasing compliance costs across the industry.
This article is for informational purposes only and does not constitute investment advice.
