South Korean authorities have launched a formal investigation into Bithumb, one of the country’s largest cryptocurrency exchanges, following a staggering operational error that briefly credited users with approximately 620,000 Bitcoin, valued at $40–44 billion at the time of the incident. The event, which occurred on February 6, 2026, is now being scrutinized by regulators for what officials describe as serious structural vulnerabilities in Bithumb’s internal controls, oversight mechanisms, and risk management processes. While the exchange has emphasized that no customer funds were ultimately lost and no external attack occurred, the scale of the error has raised alarms across South Korea’s
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