Bitcoin
February 7, 2026
A recent Bithumb airdrop that should have rewarded KRW to users turned into a major oversight from the exchange. South Korea’s top crypto exchange accidentally distributed 2000 BTC to users on February 5, pushing BTC prices lower. The company provided further information on the error informing that they recovered over 99% of the BTC incorrectly paid. Bithumb crypto prices have also experienced strong sell-off pressure after the incident.
Bithumb Airdrop: What Went Wrong?
According to the blog post released by Bithumb, the company rewarded 620,000 BTC to 695 people. They recognized the error and provided a timeline on the actions taken. In just 40 minutes from the moment of the airdrop, the company was able to completely block transactions and withdrawals.
Furthermore, they explained that more than 99% of the overpayment amount has already been recovered. Of the 620,000 BTC wrongly airdropped, they recovered 618,212 (99.7% of the total). Additionally, they explained that no external transfers of incorrectly paid Bitcoin have been confirmed.
The company provided further details on the incident:
“Through our internal abnormal transaction control system, we blocked transactions and withdrawals for 695 customers within 35 minutes of the overpayment. More than 99% of the overpayment amount has been recovered, and we were able to minimize customer damage through quick action.”
Bithumb Crypto Prices Fall After the Incident
Bithumb Bitcoin price sharply fell after this incident. The largest crypto on the market reached a price per coin of 81,200,000 KRW (approximately 55,450 USD). It is worth noting that Bitcoin was recovering at that time from the recent sell-off that pushed BTC to 60,000 USD.
Traders depend on reliable Bithumb account systems for their daily operations. This Bithumb airdrop shows that human errors are still present in 2026 despite standard improvements in recent years. The discrepancy between Bithumb Bitcoin price and other exchanges was over 10%.
Lessons from the Bithumb Account Incident
The recent Bithumb airdrop exposed clear vulnerabilities in centralized exchange operations. Despite platforms having advanced systems in place, human oversight is still an issue. Even after a rapid detection and response from the exchange, social media echoed the issue, affecting Bithumb’s reputation.
The recent Bithumb Bitcoin price gap allowed users to profit from cross-exchange arbitrage. Those users who had the opportunity to purchase BTC at lower prices in Bithumb could have sold their BTC at a profit using another exchange. This incident reinforces the need for improved standards at cryptocurrency platforms. Robust controls and transparency, alongside monitoring, are key to avoid these issues from happening in the future.
