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South Korean authorities have launched an investigation into Bithumb after it mistakenly credited 620,000 BTC to users, adding to concerns about “paper Bitcoin”South Korean authorities have launched an investigation into Bithumb after it mistakenly credited 620,000 BTC to users, adding to concerns about “paper Bitcoin”

South Korea probes Bithumb after $43B ‘phantom’ Bitcoin payout

Author: Coinstats

Source: Coinstats

2026/02/10 19:01

1 min read

BTC$67,458.01-2.77%

NOT$0.0003818-2.02%

PAID$0.000774-10.62%

South Korean authorities have launched an investigation into Bithumb after it mistakenly credited 620,000 BTC to users, adding to concerns about “paper Bitcoin” and internal controls.

South Korea’s financial watchdog has opened an investigation into Bithumb after the exchange mistakenly credited hundreds of thousands of Bitcoin to user accounts that it did not actually hold.

South Korea probes Bithumb after $43B ‘phantom’ Bitcoin payout

The Financial Supervisory Service (FSS) has launched a probe into Bithumb for alleged platform violations around the erroneous crediting of billions of dollars in non-existent Bitcoin (BTC) to user accounts, Yonhap News reported Tuesday.

Bithumb acknowledged the incident on Saturday, saying the platform “incorrectly paid” 620,000 BTC ($42.8 billion) to users during a promotional event.

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