Cryptocurrency circle super "wulong" index: Bonus unit mistakenly entered as Bitcoin exchange crazy sprinkled more than $40 billion.

During this week's cryptocurrency turmoil, the Bitcoin listing price on Bithumb, South Korea's second-largest cryptocurrency exchange, plummeted to 81.11 million Korean won, equivalent to $55,000, significantly lower than the market price. The reason behind this shocking incident: when distributing rewards for an activity, the exchange mistakenly entered the reward amount in Bitcoin instead of the correct units. According to reports, the incident occurred during a "random treasure chest" activity that was scheduled to start at 7 pm local time on Friday. The exchange intended to pay each participant a winning amount ranging from 2,000 to 50,000 Korean won (equivalent to 9.5 to 237 yuan), but mistakenly entered the units as Bitcoin. Bithumb disclosed that a total of 695 participants used points to join the activity, and out of these, 249 individuals who opened the treasure chest were originally supposed to receive 620,000 Korean won, but instead received an airdrop of 620,000 Bitcoins, averaging 2,490 per person. At the price of Bitcoin before the incident, which was 98 million Korean won/67,000 US dollars, this amounted to 415 billion US dollars/287.9 billion Chinese Yuan, with each person receiving 160 million US dollars/11.56 billion Chinese Yuan. It is worth mentioning that according to Bithumb's quarterly report, the amount of mistakenly airdropped Bitcoin far exceeded the exchange's actual holdings. As of the end of the third quarter last year, Bithumb only held a total of 42,600 Bitcoins in custody, sparking controversy over "ghost Bitcoins." Most of the Bitcoins have been recovered A post-incident report released by Bithumb revealed that 20 minutes into the activity, it was discovered that "Bitcoin was being distributed," and it took another 15 minutes to activate the process to prevent related accounts from trading/withdrawing. The situation was resolved by 7:40 pm. Fortunately, the majority of the wrongfully distributed Bitcoins were withheld before entering the market, and the involved Bitcoins did not flow out, impacting the wider market. According to the latest information provided by the exchange, out of the mistakenly distributed 620,000 Bitcoins, 618,212 have been recovered. After the incident, assets worth 1,788 Bitcoins were sold off, of which 93% have been recovered by the exchange. Currently, there are still assets worth 125 Bitcoins that have not been recovered, which amounts to 862,500 US dollars based on the latest price of 69,000 US dollars. Full compensation for affected users Unfortunately, this incident occurred during a recent period of continuous Bitcoin decline and resulted in a low of 60,000 US dollars Friday evening. Many traders were unaware that the reason for the sharp drop was actually a "mistake in filling the jackpot units," leading to panic selling. In an announcement released later on Saturday, Bithumb confirmed that as of 4 pm that day, they estimated that the losses caused by "panic selling" by exchange users amounted to approximately 1 billion Korean won. They announced that they will fully compensate customers who sold at the low price from 7:30 to 7:45 pm on Friday evening and provide an additional 10% compensation. Furthermore, the exchange announced a series of rectification measures, including enhancing the approval system for reward activities (requiring at least two stages of approval and above) and strengthening abnormal transaction detection and automatic interception AI systems. Financial regulators working overtime on the weekend As this bizarre incident gained global attention, South Korean financial regulators dispatched an on-site inspection team to Bithumb to investigate the incident and determine if any illegal activities took place. It was reported that the Financial Supervisory Service of South Korea held an emergency meeting on Saturday morning, chaired by Director Lee Chan-jeon, and sent an on-site inspection team to Bithumb. The Financial Services Commission, Financial Supervisory Service, and Financial Intelligence Analysis Institute also held an emergency meeting in the afternoon to discuss the incident and response measures, attended by Bithumb director Lee Jae-won. Deputy Chairman of the Financial Services Commission, Kwon Dae-yong, stated at the meeting, "We view this event as a serious case of vulnerability and risk exposure in virtual assets. The Financial Supervisory Service will thoroughly grasp the extent of user damages caused by this system failure, continue monitoring, and urge Bithumb to promptly take compensatory measures for user damages." This article is reproduced from "Financial Association"; GMTEight Editor: Chen Siyu.