# cryptocurrency
Latest news and articles about cryptocurrency
Total: 33 articles found
Bithumb’s $44bn ‘Fat‑Finger’ Mistake Sends Crypto Markets Reeling
Bithumb accidentally credited users with 620,000 BTC (about $44bn) during a promotional payout after entering the wrong unit; the exchange recovered 99.7% of the coins and pledged to compensate affected customers. The error briefly distorted prices on the platform, prompted a regulatory on‑site inspection and highlighted persistent operational and regulatory risks in the cryptocurrency industry.
Bitcoin's Rollercoaster: 90,000+ Traders Liquidated as Price Plunges Then Bounces Near $71k
Bitcoin suffered a sharp sell-off before recovering to around $71,000, triggering more than 91,400 forced liquidations and over $300 million in losses in 24 hours. The episode highlights heavy leverage in crypto markets, rising fears about miners and contagion to other risk assets, and an absence of government backstops.
Bitcoin Breaks $71,000 as Risk Appetite Returns — What It Means for Markets
Bitcoin reached $71,000, rising 4.67% in 24 hours as reported on NetEase. The advance reflects renewed institutional and retail demand amid favourable macro conditions but leaves the market exposed to sharp reversals given structural liquidity risks and regulatory scrutiny.
Fat‑Finger at Bithumb Sends Hundreds of Thousands of Bitcoins Into Market, Triggers Short‑Lived Crash and Regulatory Alarm
A Bithumb employee’s data‑entry error credited 620,000 bitcoins across 695 accounts, prompting rapid selling, a 17% price plunge on the exchange, and sweeping regulatory alarm. Bithumb says it recovered 99.7% of the coins, will compensate harmed customers, and regulators in Seoul will review exchange controls and possibly conduct on‑site inspections.
Bitcoin Climbs Above $70,000 as Market Momentum Returns
Bitcoin rose above $70,000 on 8 February, climbing 1.14% intraday, according to a NetEase user-posted market alert. The milestone underscores continuing investor interest and market volatility, with implications for traders, asset managers and regulators monitoring crypto's systemic risks and adoption dynamics.
Trading Error at Bithumb Sends Bitcoin into a 17% Flash Crash, Exchange Recovers Almost All Coins
A data-entry error at South Korean exchange Bithumb mistakenly credited 620,000 BTC to prize winners, prompting immediate sell orders that caused a 17% intraday price drop. The exchange says it recovered 99.7% of the coins and will compensate customers harmed by the forced selling, while regulators have opened reviews of exchanges’ internal controls.
Crypto Fiasco in Korea: Exchange Reportedly Airdrops 620,000 'Bitcoin' — A Technical Glitch or Market Shockwave?
Reports that a South Korean exchange accidentally airdropped 620,000 units labeled as bitcoin sparked alarm amid a wider crypto market slump. Given the implausible scale, analysts suspect a technical or token‑mapping error; the episode nonetheless underscores operational, regulatory and information risks for centralized crypto platforms.
Typo, Turmoil: Bithumb's 'Won‑for‑Bitcoin' Error Sparks $40bn Flash Crash and Regulatory Sweep
A data‑entry error at South Korean crypto exchange Bithumb led to hundreds of user accounts being mistakenly credited with very large bitcoin balances, triggering a brief 17% price plunge on the platform. Bithumb said it recovered 99.7% of the coins, will compensate affected customers, and now faces regulatory reviews that could strengthen oversight of exchanges worldwide.
A Staggering Human Error Rocked Crypto Markets: Bithumb’s ‘Unit Mistake’ and the Fragility of Exchange Custody
A unit‑entry error at Bithumb turned routine promotional payouts into an apparent 620,000 BTC airdrop, briefly creating nominal balances worth tens of billions of dollars and triggering a market dip. Most coins were frozen and reclaimed; regulators have launched on‑site inspections and Bithumb has pledged full compensation to affected users while promising tighter controls.
China Tightens the Noose on Crypto and Tokenised Assets: Offshore RMB Stablecoins Banned, Domestic Services Prohibited
China’s central bank and seven other agencies issued a decisive notice on 6 February 2026 that reiterates a ban on cryptocurrency trading and services while extending strict controls to tokenisation of real‑world assets and offshore issuance of RMB‑pegged stablecoins. The measures mobilise an interagency enforcement apparatus and bar financial, internet and intermediary firms from supporting unauthorised crypto and RWA activities.
China Declares All Crypto-Related Business Illegal, Bans RMB-Pegged Stablecoins Abroad and Tightens Mining Crackdown
China’s central bank and seven other ministries declared virtually all crypto-related business illegal, tightened rules on internet platforms and company registrations, and prohibited the overseas issuance of renminbi‑pegged stablecoins without approval. The coordinated notice widens enforcement to include platform takedowns, mining curbs and potential criminal prosecution, closing formal onshore channels for crypto trading and tokenisation.
Bitcoin Reclaims $68,000 After Midweek Rout — Rebound, Not Relief
Bitcoin breached $68,000 on Feb. 6, extending a rebound after a sharp midweek sell‑off. The recovery reflects mechanical short‑covering amid high leverage, but volatility and liquidation risk mean the rally may be fragile.