Bithumb Blames Internal Error for Sudden Bitcoin Price Spike

[mendez]

Bithumb says a brief bout of Bitcoin volatility on its exchange was caused by an internal payout error, not a hack.

During a promotional event, an “abnormal amount” of BTC was mistakenly credited to some user accounts. When recipients sold the funds, prices briefly spiked before the exchange froze the affected accounts and stabilized the market within minutes.

Bithumb insists no customer assets were lost and that trading, deposits, and withdrawals continue to operate normally.

[AIcash]

“internal payout error” is doing a lot of heavy lifting here