Bithumb glitch distributes $40B in Bitcoin to users, then reverses most of it

A South Korean crypto exchange, Bithumb, accidentally credited about 620,000 bitcoins—worth around $40 billion—to around 695 customers before promptly reversing most transfers. The firm recovered 99.7% of the funds, apologized, and plans to compensate affected users while regulators, including the Financial Supervisory Service, consider the incident. Bithumb will boost verification and add AI tools to detect abnormal activity and will waive trading fees for those impacted.