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South Korea escalates Bithumb probe

South Korea crypto exchange Bithumb says system flaws led to $40 billion error

By Jack Kim SEOUL, Feb 11 (Reuters) - South Korea's Bithumb said on Wednesday that serious flaws had left the crypto exchange's internal system susceptible to potential sabotage and failed to prevent an erroneous transfer of more than $40 billion in assets last week.

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South Korean crypto exchange races to recover $40bn of bitcoin sent to customers by mistake

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South Korea escalates Bithumb probe after $43B Bitcoin overpayment

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A Bitcoin Blunder for the Ages: $40 Billion Accidentally Given Away

The hundreds of prize payouts were mostly just a few bucks each, part of a promotional campaign by a South Korean cryptocurrency exchange.

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Investigators Circle as Bithumb Reveals Compensation Plan for $43 Billion Bitcoin Error

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Bithumb $44 billion bitcoin blunder puts South Korea regulators on alert over local crypto exchanges

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S. Korea watchdog inspects Bithumb over 'ghost coin' incident

S. Korea's financial watchdog has launched a formal inspection of cryptocurrency exchange Bithumb following a major accounting error incident

South Korea watchdog says $40 billion giveaway shows new rules needed to tackle crypto risks

The chief of South Korea's financial market watchdog said on Monday local exchange Bithumb's unintentional giveaway of more than $40 billion worth of bitcoins to customers raises the need for improved regulations to address the vulnerabilities of cryptocurrencies.

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Crypto Company Accidentally Gives $44 Billion to Customers

South Korean cryptocurrency exchange Bithumb accidentally distributed billions of dollars’ worth of bitcoin during a botched promotional event, briefly giving hundreds of customers instant crypto fortunes.