BTC isn't looking so hot lately, but could this blunder be part of why? Crazy news from a Korean exchange about 620k bitcoin sent out by mistake.
Imagine Getting 2000 BTC by Mistake?
20 replies 312 views
SilentHodlerMember
Posts: 36 · Reputation: 175
#2Sep 28, 2018, 11:20 PM
So Bithumb messed up and sent over 620k BTC to users. The average was 2,490 BTC per user, worth a ton of cash. They claimed it was a promo mishap.
Accounts were frozen straight away. That counts out any chance of spending or cashing out those BTC. Plus, it went down on a Friday so I doubt that’s the main factor for BTC dropping more.
LuckyDeg3nFull Member
Posts: 90 · Reputation: 408
#4Sep 29, 2018, 12:07 AM
Exactly! A big hack would drop the price for sure, but this is just a mix-up. If I got 2000 BTC, I would definitely solve some problems. But money can’t fix everything.
bridge_2016Senior Member
Posts: 28 · Reputation: 1182
#5Sep 29, 2018, 05:09 AM
Right, it’s not really yours until you pull it out. Just digits on a screen unless you withdraw it to a private wallet. If you can’t, those numbers mean nothing.
Totally. You shouldn’t bank on those numbers showing up in your wallet without a proper transfer. Until then, it’s just an illusion of wealth.
I think it’s weird that they let that much BTC go without any alarms going off. Like, they must not have a good system if this can happen.
The mistake was all about crediting wrong amounts, not actually sending BTC out. Bithumb acted fast to freeze accounts. The market just had a little hiccup.
Right, but if it was sent directly to wallets and confirmed, then great! If held in a centralized exchange though, they can just freeze everything.
chris_maxiNewbie
Posts: 85 · Reputation: 36
#10Oct 4, 2018, 07:27 AM
A flood of big withdrawals could crash prices. But exchanges are quick to act on strange transactions. Trust me, they won’t let those slip.
AtomicGweiMember
Posts: 26 · Reputation: 63
#11Oct 4, 2018, 11:41 AM
If you got 2000 BTC mistakenly, it won’t last long. They’re likely to roll it all back pretty quickly. Most of it has been recovered already.
f0rk_5tackNewbie
Posts: 47 · Reputation: 3
#12Oct 4, 2018, 04:55 PM
Honestly, how could an exchange just let that happen? Does that mean they can create BTC out of thin air? Makes you question their whole system.
AtomicRavenNewbie
Posts: 49 · Reputation: 29
#13Oct 4, 2018, 06:06 PM
2000 BTC is no joke. If it accidentally dropped into your lap, you’d probably be sweating it for days wondering if it’s real!
wallet_2018Member
Posts: 44 · Reputation: 41
#14Oct 4, 2018, 07:38 PM
Haha, right! Imagine trying to flex that at work. But then you’d end up never seeing it again, all accounts frozen.
It’s crazy how someone could sell a massive chunk before the freeze. Someone definitely got away with some BTC.
HumbleChainMember
Posts: 6 · Reputation: 200
#16Oct 4, 2018, 08:38 PM
Definitely some signs of negligence. Bithumb employees really messed things up, and the market is reflecting that.
Some people might have managed to pull out funds just before the mess was realized. It’s wild to think if anyone really got away with it.
False hope for those users at Bithumb. They received BTC they’ll probably never see again.
What happens to the employee who caused this chaos? Firing? Legal action? It’s a huge blunder.
That’s the interesting part. They could be facing serious consequences, especially if users demand compensation.