On February 9, 2026, the global crypto community is still reeling from the details of a catastrophic technical error at Bithumb, South Korea’s leading digital asset platform.
Late last week, a systemic database glitch resulted in the erroneous "transfer" of 620,000 BTC to various user accounts. To put that in perspective, at current prices, the "ghost" Bitcoin was worth approximately $43.4 billion—a figure representing nearly 3% of the total Bitcoin supply.
The anatomy of the blunderThe absurdity of the situation lies in the scale of the mismatch: while the exchange’s internal ledger credited users with over 600,000 coins, Bithumb’s actual on-chain reserves at the time were reported to be just 175 BTC. This was not an on-chain hack, but a massive failure of the internal accounting mechanism.
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