SEOUL, February 8, 2026, 22:23 (KST)
- Bithumb announced it recovered 99.7% of the bitcoin that was mistakenly credited during a promotion, following a short but intense selloff on its exchange
- Following the incident, South Korean regulators indicated they will ramp up scrutiny of internal controls at crypto exchanges
- Apple plans to let third-party AI chatbots with voice control work on CarPlay, moving beyond just Siri for voice commands
South Korea’s Bithumb accidentally credited users with over $40 billion in bitcoin during a promotion but managed to recover 99.7% of the 620,000 coins. The mistake sparked a sharp selloff, sending bitcoin prices down 17% briefly on the exchange before bouncing back. Bithumb, ranked just behind Upbit domestically, said the glitch wasn’t due to hacking. Regulators, however, flagged the incident as a clear sign of weaknesses in so-called virtual assets—their term for cryptocurrencies. (Reuters)
This slip-up is significant since crypto trades nonstop, and prices can appear “real” even if one venue’s data is off. It comes as Seoul urges exchanges to tighten oversight, following years of rapid growth and occasional crashes.
This isn’t so much about code being hacked as it is about sloppy processes: approvals, limits, and whether a system can catch a wildly wrong payout before it actually reaches accounts. Traders worry for a straightforward reason — a sudden drop can trigger panic selling well before anyone realizes the issue is isolated.
BusinessKorea reported that a glitch in a “random box” promotional event credited 2,000 bitcoin per user to 294 accounts around 7 p.m. on Feb. 6, instead of roughly 2,000 won. Before Bithumb froze the affected accounts, 1,786 bitcoin had already been sold. According to the outlet, Bithumb estimated net investor losses from the panic selling at about 1 billion won. CEO Lee Jae-won admitted, “I deeply feel a heavy responsibility for this incident.” The Financial Services Commission’s vice chairman, Kwon Dae-young, called the event a serious matter, saying, “We are viewing this incident gravely as a case that has exposed the vulnerabilities and risks of virtual assets.” (Businesskorea)
But the clean-up might not be so straightforward for all. Traders who cashed out during the dip may face losses, and a closer look could reveal more control flaws beyond just one failed reward run.
CoinDesk reported that bitcoin plunged to $55,000 on Bithumb after users were accidentally credited with huge “phantom” balances during a reward event. This glitch, however, didn’t reflect across the wider market in the same way. (Coindesk)
The Block, referencing Bithumb, reported that the exchange mistakenly sent extra bitcoin to “some customers.” They noted a “temporary fluctuation” in price after a few recipients sold their coins before internal controls kicked in to limit transactions. (Theblock)
Apple is reportedly gearing up to allow third-party voice-controlled AI apps to operate within CarPlay, its in-car interface, marking a notable shift away from Siri as the sole voice assistant. According to the report, Apple plans to maintain system-level control despite opening the door to external AI. The company declined to comment. (Reuters)
The Verge reported that this update might allow drivers to access chatbots like OpenAI’s ChatGPT, Anthropic’s Claude, and Google’s Gemini right within CarPlay. However, users would still need to launch the chatbot app first. Apple isn’t planning to let anyone replace the Siri button or the “wake word” that activates the voice assistant. That said, developers could configure their apps to open directly in voice mode, the report noted. (Theverge)
Both episodes hit the same awkward truth: modern consumer systems hinge on tiny software checkpoints — like a reward script or a dashboard button — and when these fail, the fallout is instant.
