Bithumb's Bitcoin Misdelivery Results in $2.5 Million Compensation

Bithumb compensated approximately 2.5 billion won ($2 million) for a Bitcoin misdelivery incident in February 2026, where an employee mistakenly credited 620,000 bitcoins instead of 620,000 won during a promotional event. This error affected 249 users and led to significant price distortions in the cryptocurrency market. The Financial Supervisory Service confirmed the compensation details on June 7, 2026. In a separate incident, Upbit compensated 790 million won due to a hacking event in November 2025. The five major exchanges in Korea reported a total of 57 hacking and system-related incidents from 2020 to April 2026, with Upbit having the highest number of cases. Compensation practices varied widely among exchanges, with Bithumb providing some users with fee waivers instead of cash. The need for consistent compensation measures and regulatory frameworks was highlighted by the differing classifications of incidents across exchanges.

Key Points: • Bithumb mistakenly distributed 620,000 bitcoins, leading to a $2 million compensation payout. • The incident affected 249 users and caused significant market price distortions. • Upbit also faced a major hacking incident, resulting in 790 million won in compensation.