Bithumb apologizes for erroneous Bitcoin distribution during event

South Korean crypto exchange Bithumb announced that an abnormal quantity of Bitcoin was distributed to some customers during an event promotion on Feb. 6. In a notice, the exchange stated that sales from some of the accounts that received the Bitcoin caused a temporary, sharp fluctuation in its price. Bithumb added that its internal control system immediately detected the unusual transactions and promptly restricted trading on the affected accounts. As a result, the market price returned to normal levels within five minutes. The exchange also noted that its domino liquidation prevention system functioned correctly, preventing any chain liquidations resulting from the price anomaly.