What if you received 2000 BTC?

[Ayers]

Even if you received 2000 BTC due to mistake, it means nothing. That money will never escape the exchange and few hours later everything will be rolled back.

According to the report the fund is 99.7% recovered. There are probably some people who took the funds out very early and the exchange was unable to recover but it could be a future lawsuit.

There is honestly bigger question here, how a CEX could credit bitcoin to their users that easily? did their bitcoins can be created out of thin air in their internal ledger? That's much better question to ask.

The bigger question is whether this story is true, and whether they actually sent a large amount of bitcoin to users by mistake? Or is it all just a PR stunt to attract attention from the community, or simply to show off?

I wonder how an exchange employee could have accessed such a large amount of bitcoin, and how they could have made such a serious mistake? Because 2000 BTC is completely different from 2000won. Personally, I do not believe stories like this.

[KiaKia]

If anyone sells the bitcoin very early they will be able to withdraw, but everything will be in vain because this is a centralised exchange, you need KYC to even withdraw from the exchange.

The next thing the user who withdrawn successfully will see is threat, legal threat if they don't refund the exchange, and that battle is left for the customer if he will have to surrender or not.

Honestly speaking this is not something you can get away with, unless the person have not passed KYC verification on the exchange in the past, if not they will have to return the Bitcoin.

[Kuchuku]

Bitcoin really isn’t doing very well these days but could this mistake be one of the reasons why it was dragged down even further?

Bithumb, one of South Korea's crypto exchanges, said Saturday it has recovered almost all of the 620,000 bitcoins mistakenly sent to users.

According to Bithumb, it had mistakenly sent 620,000 bitcoins to 249 users who participated in a promotional event around 7 p.m. on Friday, which translated into an average of 2,490 bitcoins worth 244 billion won (US$166 million) to a single user.

An employee mistakenly put BTC instead of KRW (korean won) and sent the money. They halted the activities of the users immediately. Can you just imagine if you were one of the users who randomly received that amount of bitcoin?

I think the exchange hack could have affected the market. But this incident was not beyond the exchange's control. Their account was hacked so that they could not withdraw Bitcoin. Usually, the market showed bad processes due to the carelessness of Bithumb employees. Crypto exchange users basically got nothing from this. If I had received 2000 BTC legally, I would have solved all my problems with this money first. There are many things that money cannot solve. I have never received a large amount of Bitcoin in my wallet, maybe I am not that lucky.

[Ishicryptic]

This is a typical example of 'not your keys not your coins' because the centralized exchange has a total control of the coins in their custody, this is why Bithump, was able to freeze the accounts that they mistakenly sent Bitcoin to. If it were none custodial wallets that received the coins they won't have the access to freeze the funds whether they mistakenly credited or they suspect it.

If I see 2000 BTC in my exchange account and I'm not expecting such amount of coins from anywhere I won't jump up in excitement because it is in a centralized platform which a management controls. I will expect my account to be frozen and the coins be moved and that was what happened in the case of Bithump. Considering whether the news has any impact on Bitcoin price, I don't think so because the incident was contained almost immediately by the exchange

[jcojci]

I don't know if that is true or not but I will return the amounts. I can't let myself gets into trouble using that BTC. They can easily tracks me down and doing something to me.

Without doing anything to our account will give them fully investigate and take again that BTC.

But Bithumb should appreciate those members who don't use that chance for members benefit

I don't know if that case made Bitcoin drops. There is another reason why that could happens.

[summonerrk]

Bitcoin really isn’t doing very well these days but could this mistake be one of the reasons why it was dragged down even further?

Bithumb, one of South Korea's crypto exchanges, said Saturday it has recovered almost all of the 620,000 bitcoins mistakenly sent to users.

According to Bithumb, it had mistakenly sent 620,000 bitcoins to 249 users who participated in a promotional event around 7 p.m. on Friday, which translated into an average of 2,490 bitcoins worth 244 billion won (US$166 million) to a single user.

An employee mistakenly put BTC instead of KRW (korean won) and sent the money. They halted the activities of the users immediately. Can you just imagine if you were one of the users who randomly received that amount of bitcoin?

When these guys received 2,000 bitcoins instead of tokens in their accounts, their accounts were immediately frozen and they could no longer do anything with this huge amount of money, which, if I'm not mistaken, equals 135 million dollars, and this is also due to the fact that Bitcoin fell by half.
And the exchange employee who transferred the BTS to them should thank God that they didn't have time to spend that money, because he would never have been able to bring the exchange that much money, even if he worked for it for free his whole life.
But overall, I think this will be a very "funny" entry in his work record. And now he won't be able to find work anywhere in this field.

[rat03gopoh]

But Bithumb should appreciate those members who don't use that chance for members benefit

I don't know if that case made Bitcoin drops. There is another reason why that could happens.

It won't even approve withdrawals. Exchanges have KYC levels for each account valuation. If users try to withdraw, let alone pass the review, they'll face stricter scrutiny than before or even be banned from the platform.

As I said before, this isn't an isolated incident, as they're easily remedied.

[Popkon6]

If you get Bitcoin directly like this, then congratulations because you own a lot of Bitcoin. In this case, if Bitcoin comes to an exchange account, then that person will definitely try to recover it and they will already try hard to get it back. And if Bitcoin is deposited in such an account, they will freeze the account and block it, so they will not let you use Bitcoin at any cost and they will take back Bitcoin because they have enough power to control the account.

[Byebyebtc]

Bitcoin's price presently is as a result of macroeconomic crisis, and also as a result of taking out liquidity.
There was no selling because the accounts where frozen, so there is no way it will move the Bitcoin market

Meanwhile if is all of a sudden I see such amounts of Bitcoin in my wallet, I might freez before they freeze my account lol
But in such an event freezing of the account will be automatic and fast their will be no way to even make some withdrawals

[Fordsmith]

I personally would not try to withdraw or trade funds that clearly do not belong to me. Even if they appear in my account due to an exchange error, using them would likely create serious legal problems, since this would be considered mistakenly credited funds.

In cases like this, the safest action is to do nothing and wait for the exchange to correct the mistake. Exchanges have full transaction records and can easily identify who attempted to profit from such errors.

The only thing I might keep is a screenshot. It would be a funny story to tell later, but not worth risking legal trouble over.

[andyfibe]

I personally would not try to withdraw or trade funds that clearly do not belong to me. Even if they appear in my account due to an exchange error, using them would likely create serious legal problems, since this would be considered mistakenly credited funds.

In cases like this, the safest action is to do nothing and wait for the exchange to correct the mistake. Exchanges have full transaction records and can easily identify who attempted to profit from such errors.
In cases like this, the safest action is to do nothing and wait for the exchange to correct the mistake. Platforms built by professional teams—such as those offering secure WordPress web design services at Codelibry—usually have strong tracking systems in place, making it easy to detect irregular transactions.
The only thing I might keep is a screenshot. It would be a funny story to tell later, but not worth risking legal trouble over.

Completely agree. People often forget that exchanges have KYC and all your data. Trying to withdraw 'free' money is just a shortcut to getting your account blacklisted and facing a lawsuit. Better safe than sorry.

[aoluain]

Ouch, could have been an expensive error!

Somebody got demoted or lost their job I'd say!

[Hamza2424]

An employee mistakenly put BTC instead of KRW (korean won) and sent the money. They halted the activities of the users immediately. Can you just imagine if you were one of the users who randomly received that amount of bitcoin?

I would have transferred it to another wallet if they had allowed, because they made a mistake so they should pay for it too haha just kidding I could not withdraw them even if I wanted to, they realized their mistake and they halted the withdrawal of all of those participants.

They did not give them a chance, but to be honest, it can be the best advertisement they can get, maybe the reward they were going to give in place of which they gave btc, might not have made them this popular as the mistake has made them haha.

[Hazink]

An employee mistakenly put BTC instead of KRW (korean won) and sent the money. They halted the activities of the users immediately. Can you just imagine if you were one of the users who randomly received that amount of bitcoin?

I could have been among those whose account will be frozen, and the money recovered from there because, seeing that amount, I will first be shocked trying to figure out where it came from, unless there is going to be an email sent and before that is done, the exchange might have already noticed it and get it out, for those who were able to sell off the bitcoin they will definitely still pay back since it's on centralized exchanges and there data is known of there is no way to access the money on there account they might come after them physically that one thing about an entity having access to your data.

[9jafirstborn1007]

2000 BTC😍 wow I guess all my problems will have a solution, and I will be extremely happy at same time to see my pains flow away

I wish it comes true though 😊

[0x000369]

An employee mistakenly put BTC instead of KRW (korean won) and sent the money. They halted the activities of the users immediately. Can you just imagine if you were one of the users who randomly received that amount of bitcoin?

imagine it for five seconds before your account is frozen lol @Furball808

this kind of screw up happens more than people realize
exchanges have full control over those funds especially centralized ones
zero market impact cuz no one actually traded or moved anything
it's not like they gave out real free bitcoin to pump the price op

anyone thinking they could keep it is dreaming
you signed their tos you did kyc
they know exactly who you are and where you live
good luck explaining that to a judge when bithumb sues you for theft

[qurbanshah02]

An employee mistakenly put BTC instead of KRW (korean won) and sent the money. They halted the activities of the users immediately. Can you just imagine if you were one of the users who randomly received that amount of bitcoin?

I would have transferred it to another wallet if they had allowed, because they made a mistake so they should pay for it too haha just kidding I could not withdraw them even if I wanted to, they realized their mistake and they halted the withdrawal of all of those participants.

They did not give them a chance, but to be honest, it can be the best advertisement they can get, maybe the reward they were going to give in place of which they gave btc, might not have made them this popular as the mistake has made them haha.

We couldn't even withdraw it because when this mistake happened and the bitcoins went to someone else's wallet, they had blocked everyone's withdrawals and until they opened it, we couldn't take it with us in our own country's currency. By the way, whoever made this mistake must have been surprised at some point, even if they knew it. If we all had found it and they hadn't been able to do anything, it would have had a very bad impact on their country's economy. No, it wasn't a prize like that. If it had, would there have been so many bitcoins? Even if they were doing it to surprise everyone, it was still a good joke, but it is true that they made a mistake and they corrected it. If any of us had had a chance to see it, what kind of joy and surprise would there have been?

[uneng]

A very expensive mistake with potential to compromise the entire funds of every users of the platform. I just hope they have ceased withdrawals in time to avoid the receiver cashing out the funds to somewhere else. Stories like this happen to remind Bitcoin enthusiasts to never store their coins in third party platforms they don't have total control over their money. To store funds in a safe hardware wallet is a must.

Of course I would like to receive 2000 Bitcoins, but definitely not that way.

[EFS]

That wouldn't excite me. Because it's not my money, it's just an amount defined on a centralized exchange so it has no real existence. It's very easy for them to notice the mistake and fix it. In such a situation, you wouldn't even be able to withdraw and use the money. Bithumb made a mistake here, but they took it back. As long as they prevent the funds from leaving the exchange, it doesn't matter how many coins are shown in the account.

[Rustam Meraj]

This huge error. Although Bithumb was able to get back 99.7% of funds by Saturday by locking accounts in 35 minutes, event has brought strong fight over dangers of one group control since it showed that one hand entry error in exchange could cause steadiness of entire global market.
As I believe, price has since bounced back to close to same price of up to 70,000 however, event that occurred has left scar in investor trust forever, as network is safe, but exchange we trust to hold it is far too easy to fail.