Bithumb completes asset reconciliation following erroneous payout incident… begins compensation payments

Bithumb said on the 8th that it has completed reconciliation of customer assets as of 10:45 p.m. on the 7th in connection with a recent erroneous payout of Bitcoin (BTC), and will begin rolling out compensation payments in phases.

Immediately after the incident, Bithumb moved to promptly recover the mistakenly distributed assets. It prioritized fully matching consistency between customer deposits and the exchange’s holdings, including even minor discrepancies that could arise during the recovery process. As a result, it recovered 99.7% of the erroneously paid Bitcoin on the day of the incident, and fully made whole the remaining 0.3%—1,788 BTC that had already been sold—by deploying company-held assets.

Bithumb said all of its virtual asset holdings, including Bitcoin held in custody, are being managed at levels that match or exceed user deposits. It added that customer assets remain safely stored as before.

In responding to the incident, Bithumb activated a company-wide crisis management system led by top management, with all business divisions participating. It has been transparently sharing key measures and progress through notices, and immediately after the erroneous event reward payout occurred, it blocked trading and withdrawals on the relevant accounts and proceeded with recovery efforts. It said it is also providing sequential updates on the cause of the incident, recovery status, measures to prevent recurrence, and the compensation plan, and is cooperating faithfully with authorities’ investigation.

Compensation will also be provided in stages. Customers who were logged into the Bithumb app or website at the time of the incident will receive 20,000 won. Customers who sold at low prices during the incident window—from 7:30 p.m. to 7:45 p.m. on Feb. 6—will receive the full difference in sale proceeds plus an additional 10% compensation. In addition, a 0% trading fee policy for all listed coins will be implemented for seven days starting at 0:00 on Feb. 9.

Bithumb also plans to operate a dedicated investor relief team within its customer service center to provide affected customers with detailed guidance on compensation.

Bithumb said, “We sincerely apologize for the inconvenience and concern this incident has caused our customers,” adding, “We will continue to place the highest priority on protecting customer assets and provide a safer trading environment by preventing recurrence and strengthening internal control systems.”