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A major shock hit the crypto industry after South Korea’s leading exchange Bithumb accidentally transferred over 600,000 BTC, worth nearly $40–44 billion, to user accounts due to an internal system error.
According to official statements, the incident was not a hack, but a technical glitch in Bithumb’s promotional and settlement system. The exchange quickly froze operations and managed to recover more than 99% of the mistakenly sent Bitcoin, preventing a large-scale market disaster.
This incident has raised serious concerns about exchange risk management, internal controls, and regulatory oversight. Even though funds were mostly recovered, the event highlights how a single system error can threaten market stability and user trust.
For traders and investors, this serves as a strong reminder:
centralized exchanges still carry operational risks, and proper risk management is essential in crypto trading.
Despite the news, Bitcoin price remained relatively stable, showing strong market maturity compared to previous years.#BitcoinGoogleSearchesSurge #WhenWillBTCRebound #WarshFedPolicyOutlook #EthereumLayer2Rethink? #Write2Earn
