South Korea orders 5-minute crypto asset checks after Bithumb error

Regulators in South Korea are tightening exchange checks after a payout error and rising capital outflows.

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Bithumb Faces 6-Month Suspension In South Korea Over AML, KYC Violations

The South Korea-based cryptocurrency exchange, Bithumb, is facing significant legal and operational challenges following a major system error in February. This resulted in more than $43 billion worth of Bitcoin (BTC) being distributed to users, prompting scrutiny from regulatory bodies.

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How a Bitcoin promotion error triggered a regulatory reckoning in South Korea

A mistaken Bitcoin payout revealed how exchange ledgers work and why South Korea is rethinking internal controls for crypto platforms.

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Bithumb recovers nearly all Bitcoin after recent airdrop error

South Korean crypto exchange Bithumb said it has recovered nearly all of the Bitcoin mistakenly distributed during a promotional error that briefly disrupted prices on its platform earlier this month.

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Bithumb Recovers Nearly All Bitcoin From $40 Billion Error

South Korea’s major cryptocurrency exchange Bithumb has confirmed it has successfully recovered 99. 7% of the 620,000 BTC that were mistakenly credited to customer accounts during a promotional payout error.

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Bithumb confirms reward payout error after abnormal Bitcoin trades

The South Korean exchange said an internal error during a promotional event led to brief price dislocations, stressing that no customer assets were lost.

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Bithumb Explains Accidental 2000 Bitcoin Payout: What Really Happened?

South Korean cryptocurrency exchange Bithumb has officially confirmed that an operational error led to an abnormal Bitcoin payout during a promotional event. The incident triggered a brief but sharp price dislocation on the platform before markets stabilized within minutes.

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Bitcoin briefly drops on Bithumb amid claims of 2k BTC airdrop error

South Korean crypto exchange Bithumb was thrust into the spotlight on Friday after claims surfaced on social media that an internal error led to the accidental distribution of 2,000 Bitcoin to users, triggering a sharp price dislocation on the platform.…

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Extreme Shiba Inu Anomaly or On-Chain Error: 23,561,900,000,000 SHIB in 24 Hours

Shiba Inu is seeing an enormous exchange outflow that can change things around drastically.

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Code Error Costs Coinbase $24.7M in Ireland

The European arm of the Coinbase exchange is required to pay $24.7 million fine to the Central Bank of Ireland for failing in its obligation as a VASP in the region. The post Code Error Costs Coinbase $24.7M in Ireland appeared first on Coinspeaker.

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Inside Bitcoin’s 24 hour race to survive a global internet blackout

Imagine the world’s internet backbone collapsing in a day. Whether it’s due to human error, a catastrophic software bug, a rogue computer virus, or outright kinetic warfare, what happens to Bitcoin if the physical internet exchange hubs that connect the world suddenly go dark? If Frankfurt, London, Virginia, Singapore, and Marseille were to go offline […] The post Inside Bitcoin’s 24 hour race to survive a global internet blackout appeared first on CryptoSlate.

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Crypto hacks in August hit $163 million as exchange risks grow

The largest theft was $91. 4 million from anonymous Bitcoin addresses. Other victims included Odin. fun ($7 million), BetterBank. io ($5 million), and CrediX Finance ($4. 5 million). Weak audits, human error, and fast platform launches are driving security risks.

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Crypto user pleads guilty after spending $10m deposit error

A crypto investor who received over $10 million instead of a $100 deposit is facing jail time after Crypto.com discovered the error. In May 2021, Crypto.com user Jatinder Singh attempted to deposit $100 into his exchange account using a bank…

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Aussie crypto exchange seeks to reclaim $328k after major fat-finger crediting mistake

An Australian crypto exchange is reportedly making efforts to retrieve nearly $328,000 from a user after mistakenly crediting their account due to a substantial fat-finger error. The incident involved Rhino Trading, the parent company of the crypto exchange OTCPro, which…

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Crypto.com Accidentally Sent $400M Worth Of ETH – But It’s Not The First Time They Are Making Such An Error

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Canadian Crypto Exchange Coinberry Files Lawsuit Against 50 Users After Losing 120 BTC: Report

Canadian cryptocurrency exchange Coinberry has filed a lawsuit against 50 users who collectively withdrew 120 bitcoins following a software error in 2020.

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Coinbase Users In Georgia Exploited a Decimal Point Error To Cash Out At 100X

Why isn’t Coinbase talking about this? In the Caucasus country of Georgia, an error led to some users exchanging their cryptocurrencies at a 100X profit. Is the cryptocurrency exchange entitled to that money? Or is this a simple case of users taking advantage of an arbitrage opportunity? In crypto, transactions are supposed to be final. […]

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Regulators have a weak case against FTX on deposit insurance

FTX made an error in messaging when it suggested depositors were insured, but federal regulators will have a hard time proving the exchange did so with sinister motives.

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Ether (ETH) Miner Returns Over 7,000 ETH Transaction Fee Paid in Error

Following a huge incorrect payment in gas fees made by Bitfinex, an Ethereum miner has refunded the overpaid transaction funds.  Bitfinex Paid Over $23 Million for Ether Gas Fee According to blockchain data from Etherscan on Monday (September 27, 2021), one of the wallet addresses belonging to cryptocurrency exchange Bitfinex, paid 7,626 ETH, which atRead More

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Bitfinex paid a colossal $23M fee to send $100K of USDT

In what is presumed as a technical error, popular crypto exchange Bitfinex paid a seismic $23.7 million dollars in a gas fee for a comparatively nominal $100K transaction.

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Coinbase to Improve Customer Service After “Account Security” Debacle

San Francisco-based cryptocurrency exchange Coinbase erroneously told about 125,000 of its customers that their security settings had changed. The company, which started publicly trading on the Nasdaq in April through a direct listing, said that it resulted from an internal error.

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Kirobo Launches the P2P Swap Button, Enabling Slippage-Proof, Safe Token Swaps

– Token prices set by users independent of exchange algorithm-based slippage – The service is zero-fee, and allows traders to avoid peak gas prices – The multisig, multi-transaction mechanism removes risk of error and fraud from token swaps  Tel Aviv – 3rd of August, 2021.

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Kirobo launches ‘Atomic Safe Swap’ to eliminate the risk of human error for P2P exchange

Kirobo, a blockchain company with a mission to simplify cryptocurrency management, has launched its new ‘Atomic Safe Swap’ service; enabling peer-to-peer (P2P) token swaps without the risk of human error and without the need for an exchange or custodial third party.

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Coinbase delisting averted as German stock exchange resumes trading

Coinbase averted the delisting of its shares from the German stock exchange after submitting legal documents that had originally been neglected in error.

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Philippine Crypto Exchange Demands Users Return Bitcoin Bought at $6,000 Following System Error

Philippine crypto exchange Pdax recently suffered a costly technical failure – one that led to bitcoin trading at 300,000 Philippine pesos (around $6,000) – a discount of 88% to its current price.

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Cryptopia exchange liquidator warns users against 'third party' scheme

Hacked crypto exchange Cryptopia’s assigned liquidator, Grant Thornton New Zealand shared a follow-up update for Cryptopia account holders stating that "due to an error" by court staff at the ChristThe post Cryptopia exchange liquidator warns users against 'third party' scheme appeared first on AMBCrypto.

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Coincheck Crypto Exchange Clients’ Data Compromised After Hacker Breached Its Domain

Japan-based cryptocurrency exchange, Coincheck, announced yet another hack – this time about 200 customers data was compromised after a domain account error. According to an official statement from the corporate desk of Coincheck, a third party was able to gain unauthorized access to one of the exchange’s domains from May 31st to June 1st. Coincheck’s […]

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Crypto Exchange Binance Suspends Trading Over ‘Systems Messaging Error’

The Binance exchange said an outage was due to system maintenance prompted by a problem with a data feed.

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Poloniex ‘Last Resort’ Trade Reversals Necessary to Safeguard Trader Funds

Crypto exchange Poloniex says an error that led to a complete reversal of trades was a “last resort” to safeguard traders’ funds

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Poloniex Crypto Exchange Forced to Roll Back Trades After Update Error

The cryptocurrency exchange – recently acquired by an investment group including Tron – now says its systems are back to normal.

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Tether Accidentally Printed $5 Billion Worth Of USDT

While helping the crypto exchange Poloniex move $50 million worth of USDT from the Omni blockchain to the Tron blockchain, Tether inadvertently printed $5 billion worth during the transfer, citing human error.

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Synthetix Resumes Trading Following Misplacement Of 37 Million Synthetic Ether

After an oracle error resulted in a trading bot receiving profits of 1,000 times their actual worth, an agreement between the bot's owner and Synthetix saw the exchange platform get back 37 million synthetic Ether while the bot owner received a bug bounty.

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LocalBitcoins Denies Service to Iranian Users

The popular peer-to-peer bitcoin trading network LocalBitcoins has shut down all trading operations for Iranian users. LocalBitcoins’ website offers a variety of pages for users of different nations and, as of May 24, 2019, the Iranian page displays a message that “LocalBitcoins is currently not available in your selected region,” in English only.

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Bitcoin Price ‘Flash Crashes’ To $6.1K – Here’s The Likely Reason Why

A 5,000 BTC dump on Bitstamp likely caused the bitcoin price flash crash that occurred during the early hours (UTC) of Friday (May 17, 2019). Bitcoin plunged to as low as $6,100 on the exchange but has since recovered over $7,000 over the past few hours.

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Op Ed: Why Bitcoin’s “Toxic” Maximalism Makes Sense

Over the years, Bitcoin has gained a reputation for having a “toxic” community of users around it. This accusation is mostly thrown at Bitcoin by proponents of altcoins and those who have supported various Bitcoin hard fork attempts in the past.

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Shock Court Ruling Holds Crypto Exchange Liable in Singapore’s First Bitcoin Trial

A court has ordered the unhappy operator of crypto exchange Quoine to follow through with a glitched computer transaction that allowed a crypto market liquidity provider to swap ether for bitcoin at a rate of 10 bitcoin to every ether at a time when 1 ETH was worth .

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Next Generation ‘Hardware 2.0 Wallet’ is Eradicating Storage to Improve Security

Next Generation ‘Hardware 2. 0 Wallet’ is Eradicating Storage to Improve Security From initial coin offerings to cryptojackers, security is a big issue when it comes to cryptocurrency.

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Binance CEO Finds Error In BitTorrent (BTT) Token Airdrop But Affirms Are Users’ Funds Are Safe

Binance is the largest crypto exchange in the world. The success story of the company is pretty incredible, especially when you consider that there are no heavy names from the traditional financial industry behind Binance.

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S. Korean Exchange Accidentally Sends $5 Million Worth of Bitcoin (BTC) In Error During Airdrop

An airdrop mishap worth $5 Million in Bitcoin (BTC) and other cryptocurrencies was sent to customers of the South Korean exchange of CoinZest. The exchange was meant to send an airdrop of We Game Tokens (WGT) but a computer error resulted in users not only getting BTC and other cryptocurrencies, but deposits in the fiat […] The post S.

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Cryptocurrency exchange botches airdrop, gives $5.3M to its users

Every week we seem to read another new story about yet another cryptocurrency exchange hack or scam in which users’ funds are stolen. But this week, a South Korean exchange has flipped the narrative on its head.

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Airdrop Mishap Causes Korean Exchange to Accidentally Send BTC to Customers

A South Korean crypto exchange mistakenly sent its customers BTC and other cryptocurrencies due to an error during an airdrop. Some users immediately sold the coins, causing the prices of a number of cryptocurrencies on the exchange to sharply fall.

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Airdrop Causes Exchange to Accidentally Send BTC to Customers

A South Korean crypto exchange mistakenly sent its customers BTC and other cryptocurrencies due to an error during an airdrop. Some users immediately sold the coins, causing the prices of a number of cryptocurrencies on the exchange to sharply fall.

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Why Ohio’s State Treasurer Backs Decision to Accept BTC For Tax Payments

As tax season is rapidly approaching, some states, like Ohio, have decided to set a new standard for the rest of the country to follow. Back in November, Ohio became the first state in the U.

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Brazilian Bitcoin Exchange Sends User $35M in Bug-Induced Error

Accidental millionaire Kaique Nunes has a bug to thank after his withdrawal request of 500 reals ($128) erroneously returned a cool 137 million reals ($35. 13 million) from Brazilian bitcoin exchange Bitcambio.

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Crypto Task Force Bill Passes House of Representatives, Moves to Senate

A bill that seeks to create a task force to combat the use of cryptocurrency in financing terrorism has just passed the House of Representatives. House Resolution 5036 (H.

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Court Sides With Crypto Exchange Despite Allegation It Violated China Ban

A Chinese cryptocurrency trader who was sent bitcoin in error must repay an exchange even if it broke domestic rules, a Beijing court has ruled.

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“Eating Their Lunch:” Blockchain Upstarts Challenge Investment Banks

Access to personal financial data and the emergence of blockchain technology have been the catalyst for a revolution in the banking sector. At the start of this year, banks within the European Union were ordered by the Competition and Markets Authority (CMA) to grant customers access to their personal data.

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‘Flaw’ Was Actually an Exchange Error Tether Code

Suggestions that the code for Tether’s dollar-pegged cryptocurrency USDT may contain an error that can be exploited to allow double spending appear to be false. According to the latest statements from both blockchain security firm Slow Mist, the company that made the original claim, and Tether, the startup that provides software for USDT, the issue

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Exchange Integration Error Was True Cause of Tether Code ‘Flaw’

According the latest statements from both blockchain security firm Slow Mist and Tether, the issue is actually down to an exchange integration flaw. On Thursday, Slow Mist claimed in a WeChat post that when an exchange is conducting a transaction with USDT, the exchange needs to verify that the transactions details are “true. ” If this is not

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