Industry insiders reveal that on February 10, 2026, South Korea's financial regulatory authority initiated a formal investigation into the cryptocurrency exchange Bithumb. The investigation aims to ascertain how Bithumb managed to pay customers bitcoins valued at over KRW 60 trillion (roughly USD 41.2 billion) that it did not possess in reality. Earlier, owing to an operational mishap, Bithumb erroneously distributed 620,000 bitcoins instead of a KRW 620,000 reward during a promotional campaign. This blunder led to a 17% nosedive in the platform's bitcoin price and sparked widespread market panic. Although Bithumb swiftly froze accounts and retrieved 99.7% of the assets, the incident brought to light substantial shortcomings in its risk control framework. The South Korean financial regulatory body will concentrate on scrutinizing Bithumb's asset protection protocols, risk control procedures, emergency response strategies, and customer rights rectification initiatives. Additionally, it may advocate for pertinent legislative amendments.