Bithumb Mix‑Up Sends Bitcoin Surge

Bithumb made a big mistake by giving users 2,000 BTC each instead of a small cash reward.

The plan was to drop 2,000 won (about $1.37), but the system sent 2,000 bitcoins instead. With Bitcoin near $71k at that time, the error added more than $95B in user balances.

The Glitch and Its Impact

The glitch happened during a "Random Box" giveaway.

• About 700 people bought boxes.
• 96% were slated to receive the lowest prize.
• Roughly 672 of them actually got the extra BTC.

Bithumb noticed the problem within five minutes and corrected the internal ledger.

Traders Seize the Opportunity

While the fix was quick, many traders saw an opportunity. In that window, users sold roughly $2B worth of the misplaced coins. The sudden sales dropped Bitcoin price on Bithumb to around $55k—below other exchanges—before rebounding again.

Aftermath and Recovery

By Thursday’s close, the token had climbed back to about $71,047.

Bithumb said the incident was not a hack and caused no loss of existing holdings.

The exchange also noted that this event will help them improve future giveaways and reporting accuracy.