Storytimes Newspapers

 In one of the most astonishing operational errors in cryptocurrency history, South Korean exchange Bithumb accidentally transferred approximately 620,000 bitcoins—valued at more than $40 billion (and up to $44 billion at peak prices)—to its users as part of a routine promotional event. The mistake occurred on Friday when the platform intended to distribute small cash rewards of around 2,000 Korean won (roughly $1.37) or more to select participants. Instead, due to what appears to be a critical unit error—entering the reward in bitcoin rather than won—winners received at least 2,000 BTC each. This massive over-distribution affected 695 customers and briefly caused chaos on the exchange. Bithumb acted quickly, restricting trading and withdrawals for the impacted accounts within just 35 minutes of the erroneous transfers. The exchange issued an apology on Saturday, confirming it had successfully recovered 99.7% of the mis-sent bitcoins. The remaining portion represents a tiny fractio...

  Bitcoin extended its recent sharp decline, falling as low as around $69,800–$69,900 (with reports varying slightly across exchanges like CoinDesk, Reuters, and others) before partially recovering above $70,000 in some sessions. The drop comes amid a broader sell-off in risk assets, including cryptocurrencies and precious metals, with the Crypto Fear & Greed Index plunging into "extreme fear" territory at levels around 11. Analysts attribute the reversal to several factors: fading optimism around immediate pro-crypto policies under the Trump administration (despite earlier hype about lighter regulation and potential strategic reserves), comments from Treasury Secretary Scott Bessent ruling out government bailouts for crypto, broader market risk aversion, and liquidity-driven selling. The move has wiped out all gains since Trump's 2024 win, with Bitcoin down sharply from its all-time high above $126,000 in late 2025. The cryptocurrency has shed nearly 20% year-to-date...