Bithumb Blunder: Bitcoin Drops 10% – You Won’t Believe Why

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Key Highlights

  • Bithumb accidentally credited hundreds of users with 2,000 BTC each instead of 2,000 KRW-because apparently someone’s spreadsheet went on holiday.
  • Bitcoin traded about 10% lower on Bithumb, a charmingly local tragedy separate from the world’s markets.
  • Flash crash low touched ₩81,110,000 before a polite, if reluctant, recovery to ₩98,218,000.

Bitcoin had a proper diva moment on South Korea’s Bithumb after an internal reward blunder allegedly credited hundreds of users with 2,000 BTC instead of 2,000 KRW. A good number of recipientsCash cashed out the excess Bitcoin faster than you can say “portfolio rebalancing,” sending price pressure straight to the exchange’s doorstep.

The price dip stayed a Bithumb-only affair, leaving the wider market sipping its latte and pretending nothing happened.

Reward mistakenly credited

The glitch occurred during a rewards payout-an airdrop, if you must label it. Instead of a tidy KRW-denominated reward, hundreds of accounts were credited with 2,000 BTC each. Several recipients confirmed the mistake, and most dumped the Bitcoin as soon as it appeared on their screens, probably imagining a sudden windfall that never quite landed.

Bitcoin trades below global prices

Following the sell-off, Bitcoin traded about 10% lower on Bithumb compared to global markets, with moments where the gap looked like a plot twist in a soap opera. The incident shows how internal exchange glitches can skew local pricing without tipping the global market off its cappuccino.

Price data from Bithumb (Feb 6, 2026)

  • Flash Crash Low: ₩81,110,000
  • Current Price: ₩98,218,000

🚨 BREAKING: South Korea’s Bithumb accidentally distributed ~2,000 BTC (~$130M) instead of 2,000 KRW (~$1.50) during a rewards payout after a staff member reportedly typed BTC where KRW should have gone. Hundreds woke up to unexpected Bitcoin and…

– The Crypto Times

The BTC/KRW 1-minute chart performed a dramatic tango: a sharp drop, a stubborn little recovery, and a long downward wick that looked suspiciously fashionable in hindsight. Trading volume spiked as the error unfolded, mirroring the kind of chaos you’d expect if a closet raid met a crash course in liquidity.

Exchange reserve and market impact

Bithumb reportedly holds around 46,000 BTC in reserves. The sudden appearance of large Bitcoin balances across numerous accounts put immediate pressure on the exchange’s order books relative to available liquidity.

Prices on Bithumb have begun moving closer to global levels. The exchange has yet to issue a detailed public explanation, and it remains unclear how it will handle credited balances or trades executed during the incident. Until then, we’ll pretend this is all part of a very elaborate marketing stunt for volatility.

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2026-02-06 17:16