Explosive incident in the cryptocurrency world! Epic slip-up by a South Korean exchange mistakenly issues 620,000 BTC!
A shocking blunder occurred in the cryptocurrency world! A leading South Korean exchange mistakenly entered the reward unit as 'BTC' instead of 'Korean Won' during a promotional event, resulting in approximately 620,000 Bitcoins being erroneously sent to 249 users, averaging 2,490 coins per person, with a total value reaching up to $166 million! This massive 'airdrop' triggered concentrated selling, causing the BTC price on the platform to plummet sharply, shaking the market instantly.
In response, the platform quickly froze the involved accounts, suspended trading and withdrawals, and initiated recovery within 35 minutes. So far, 618,212 coins have been retrieved, with 93% of the 1,788 coins sold by users recovered, leaving only 125 BTC still unaccounted for. The South Korean Financial Supervisory Service has intervened to investigate, focusing on the platform's risk control mechanisms and asset security capabilities.
In comparison, leading exchanges like Binance have already established multi-layer operation checks, large transfer interceptions, unit error prevention systems, and 24/7 risk control monitoring to eliminate such basic errors from the source. Asset security in the cryptocurrency world is no small matter; a single operational flaw can trigger a chain reaction of risks. Compliance operations and robust technological safeguards are essential core competencies for exchanges.
This epic blunder is outrageous. Do you think the 125 BTC can ultimately be recovered? How should exchanges improve risk control to avoid making mistakes again?
