Bithumb 620K BTC Error: Lawsuit for 7 BTC

South Korean crypto exchange Bithumb has initiated legal action to recover the still-missing 7 BTC from an incident where it accidentally distributed 620,000 BTC due to an error during a February promotional event. The exchange filed a court-approved provisional attachment against users who did not return the money. According to Chosun Biz’s Thursday report, on February 6, while it was planned to distribute 620,000 won (420 dollars) to 249 winning participants, an input error resulted in 620,000 Bitcoin being sent, and the transaction was reversed shortly thereafter. Bithumb recovered 99.7% of the funds on the same day and covered the remainder from company reserves.

How Did the Input Error Happen in Bithumb’s Promotion?

In the February 6 promotion, sending 620,000 BTC instead of 620,000 won stemmed from a technical input error. Most of it was recovered through quick intervention, but 7 BTC has still not been returned. This incident highlights the sensitivity of exchanges’ promotion systems. Check current data for BTC detailed analysis.

Court-Approved Provisional Attachment Application for 7 BTC

While some users refused to return the funds, under South Korean laws, assets received in error are considered unjust enrichment and must be returned. Bithumb filed a provisional attachment request against these users. The incident underscores the risks in exchanges’ reserve management.

New Directive from South Korea to Crypto Exchanges

Following the incident, the South Korea Financial Services Commission (FSC) ordered all crypto exchanges to reconcile their asset balances every five minutes. The audit revealed that three of the major exchanges were performing daily reconciliations. This will elevate operational standards in the sector.

BTC Market: ETF Inflows and Technical Outlook

On April 22, 2026, ETF flows saw Bitcoin ETFs recording $335.8 million in net inflows, while Ethereum saw $96.4 million. BTC price at $77,952 level, 24h -0.11%. RSI 65.37 (uptrend), EMA20: $74,107. Supports: S1 $74,400 (strong), S2 $77,521. Resistances: R1 $79,082 (strong), R2 $83,437. Details for BTC futures here. Although Supertrend gives a bearish signal, ETF flows are providing positive momentum. BTC spot analysis is recommended.