Bithumb has reported that it has resolved a reward glitch that caused some users to be mistakenly awarded with extra bitcoin during a promotional event. On the same day, 99.7% of the overpaid money was recovered by the exchange. Company funds were used to cover the remaining 0.3%, or around 1,788 BTC that had already been sold, in order to maintain completely supported balances.
The South Korean cryptocurrency exchange said deposits remain matched and confirmed the issue was not caused by hacking. Trading was briefly disrupted when users sold the extra bitcoin.
To compensate users, Bithumb will pay 20,000 won to affected accounts, refund losses with a 10% bonus, and waive trading fees for seven days.
To address user impact, Bithumb announced compensation, including cash payouts, reimbursements with bonuses, and a seven-day trading fee waiver.
Most of the excess Bitcoin was taken back directly from user accounts, while the portion sold in the market required reimbursement from corporate reserves. The exchange stressed the issue was not caused by hacking and that deposits and withdrawals continued as normal.
You need to login in order to Like
Leave a comment