Bithumb said it resolved a system error during a promotional campaign that overcredited user accounts with bitcoin, covering sold tokens with company funds to avoid customer losses.
The South Korean exchange said it recovered 99.7% of the excess bitcoin the same day, while the remaining 1,788 bitcoin that had already been sold were reimbursed from corporate reserves.
“Bithumb’s holdings of all virtual assets, including Bitcoin (BTC), are 100% equivalent to or exceeding user deposits,”
The exchange said in a statement on Sunday.
The incident triggered brief volatility on Bithumb after some users sold unexpectedly credited bitcoin, before the exchange restricted affected accounts and stabilised trading within minutes.
Bithumb said the error was not caused by a hack or external breach, with deposits and withdrawals operating normally throughout the disruption.
As compensation, affected users will receive 20,000 won in goodwill payments, while traders who sold at unfavourable prices will be reimbursed plus an additional 10%, alongside a seven-day trading fee waiver.
The episode adds to growing scrutiny of operational risk at centralised exchanges, highlighting how internal system failures can still disrupt markets despite the absence of security breaches.
At the time of reporting, Bitcoin price was $71,309.35.