PANews February 7th news, Bithumb issued an apology announcement regarding the erroneous payment incident. Bithumb stated that it failed to uphold the primary principle of a virtual asset trading platform: "stability and integrity." After the incident occurred, it has reported to all relevant departments and is fully cooperating with the Financial Supervisory Service's investigation. 1. Bithumb will improve its systems and processes to prevent human errors from turning into incidents. To prevent such incidents from happening again, Bithumb has upgraded its internal control systems and implemented innovative measures. (1) Strengthen asset verification system: It will enhance the verification of customer and company assets during payment processes based on events or company policies. (2) Improve multi-step payment system: It will improve some previously missing processes to ensure that customer asset transfers and reward payments require at least two steps of payment, thus preventing similar incidents from occurring again. (3) Strengthen AI system for abnormal transaction detection and automatic interception: Once abnormal transactions or data are detected, the system will immediately activate the "safety assurance" system, which operates 24 hours a day, 365 days a year, to prevent incidents from occurring at the source. (4) External expert system audit: It will commission global security expert organizations to conduct a comprehensive system assessment of Bithumb and publicly disclose the results in a transparent manner. 2. The company will take full responsibility for preventing customer losses. Since the second announcement was issued, there have been no direct customer asset losses caused by the overpayment incident. However, due to the sharp price drop, there were some unfavorable transactions for customers during the incident (panic selling). Bithumb considers these transactions to fall within its responsibility to protect customers and plans to provide full compensation to affected customers, including additional compensation. As of 16:00 on February 7, 2026, the estimated customer loss is approximately 100 million KRW. The company plans to compensate for any additional losses. (1) Panic selling special compensation: Users who sold at a low price during the incident period (19:30-19:45 on February 6, 2026) will receive full selling price plus an additional 10% compensation. (Automatically paid within one week after data verification.) (2) Compensation for all Bithumb users who accessed during the incident: All users who accessed Bithumb services during the incident period will receive 20,000 KRW compensation within one week. (3) All users zero transaction fees: Transaction fees for all trading varieties will be reduced to 0% for seven days. (To be announced separately.) (4) Establish a 10 billion KRW "customer protection fund": A special fund will be established to immediately rescue customer assets in the event of an incident.
Bithumb Apologizes for Payment Error and Announces Compensation Plan
PANewsShare
Summary
Bithumb issued an apology and compensation plan after a digital asset news report revealed an erroneous payment incident. The exchange admitted failing to maintain stability and integrity, and has reported the case to authorities while cooperating with the Financial Services Commission. To prevent recurrence, Bithumb has boosted internal controls, including asset verification upgrades, multi-step payment improvements, AI anomaly detection, and external audits. Affected users will receive compensation, such as a 10% bonus for panic sellers, 20,000 KRW for users during the incident, seven days of zero fees, and a 100 billion KRW protection fund. The incident raises concerns over potential exchange hack risks.
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