South Korea-based crypto exchange Bithumb said it accidentally sent an excess of bitcoin to “some customers,” who reportedly sold it, causing price disruptions on the platform, according to a blog post on Friday.
“We sincerely apologize for any inconvenience caused to our customers due to the confusion that arose during the payment process for this event,” the exchange said (translated by Google). “Bithumb immediately recognized the abnormal transaction through its internal control system and promptly restricted transactions for the relevant account.”
Bithumb did not disclose how much bitcoin was mistakenly sent or the number of accounts affected. The exchange says its “domino liquidation prevention system” prevented more severe chain liquidations caused by an “abnormal bitcoin price.” It also noted the transactions were unrelated to “external hacking or security breach.”
“It is understood that this incident did not result in any loss or damage to customer assets,” the exchange said.
Founded in 2014, Bithumb is one of the largest crypto exchanges in South Korea.
This story may be updated as The Block learns more.
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