In a galaxy not so far away, the South Korean crypto exchange Bithumb found itself in a bit of a pickle-or should we say, a Bitcoin pickle. It seems that during a promotional event that went about as smoothly as a Vogon poetry reading, they accidentally distributed Bitcoin instead of the intended Korean won incentives. Yes, you read that right. Bitcoin. Not won. Because why give away local currency when you can accidentally hand out digital gold?
- Bithumb claims to have recovered a whopping 99.7% of the mistakenly distributed Bitcoin, which is almost as impressive as the time Arthur Dent managed to not get killed by the Vogons.
- The exchange dipped into its own pockets to cover the remaining amounts after some users decided, “Hey, free Bitcoin! Let’s sell it before they notice!”
- Bitcoin prices on Bithumb took a nosedive, but thankfully, the rest of the crypto universe didn’t bat an eye. Crisis averted. Mostly.
In a notice that probably involved more head-scratching than a Deep Thought calculation, Bithumb explained that the whole fiasco was due to a “system configuration error.” Apparently, someone forgot to check the “Do Not Distribute Bitcoin” box during the reward event on February 6th. Oops.
Since then, Bithumb has been on a recovery mission that would make Ford Prefect proud, reclaiming about 99.7% of the errant Bitcoin. The remaining fraction? Well, that was covered by Bithumb’s own funds, because why not add a bit of financial drama to the mix?
By the stroke of midnight on February 7th (or thereabouts), Bithumb declared all affected balances restored and customer assets safely tucked away. They also moved faster than a Heart of Gold escaping a Vogon constructor fleet to block impacted accounts and start the recovery process, insisting this was an operational hiccup, not a security breach. Phew.
The mistake did cause Bitcoin prices on Bithumb’s BTC/KRW market to plummet faster than a bowl of petunias, diverging wildly from global prices. It turns out localized liquidity shocks can be quite the spectacle, even if the broader market remains as calm as a Hitchhiker’s Guide entry on the subject of tea.
To make amends, Bithumb promised to compensate traders who sold Bitcoin at bargain-basement prices and even offered fee relief. Because nothing says “sorry” like a discount on your next transaction.
And in true bureaucratic fashion, Bithumb has formed a dedicated task force to ensure this never happens again. Because if there’s one thing the universe needs, it’s more committees.
In the end, Bithumb’s swift recovery effort proves that even in the chaotic world of crypto, there’s always a way to turn a blunder into a mildly amusing anecdote. So, the next time you accidentally distribute Bitcoin, just remember: it could always be worse. You could be stuck at a Vogon poetry recital.
Read More
- Gold Rate Forecast
- Outlander’s Caitríona Balfe joins “dark and mysterious” British drama
- Bianca Censori finally breaks her silence on Kanye West’s antisemitic remarks, sexual harassment lawsuit and fears he’s controlling her as she details the toll on her mental health during their marriage
- Married At First Sight’s worst-kept secret revealed! Brook Crompton exposed as bride at centre of explosive ex-lover scandal and pregnancy bombshell
- MLBB x KOF Encore 2026: List of bingo patterns
- Wanna eat Sukuna’s fingers? Japanese ramen shop Kamukura collabs with Jujutsu Kaisen for a cursed object-themed menu
- Bob Iger revived Disney, but challenges remain
- First look at John Cena in “globetrotting adventure” Matchbox inspired movie
- Mystic Realms introduces portal-shifting card battles with legendary myth-inspired cards, now available on mobile
- How TIME’s Film Critic Chose the 50 Most Underappreciated Movies of the 21st Century
2026-02-09 10:34