Bank of Korea dey beg make dem get circuit breakers for crypto after Bithumb BTC yawa

Bank of Korea (BOK) don advise crypto exchanges make dem put small-small “crypto circuit breakers” after one internal control wahala for Bithumb show say their system get gbege wey fit make market collapse sharp-sharp. For im April 13 payment and settlement report, BOK talk say crypto sector controls and compliance no reach the level wey normal financial institution get. Wetin trigger am na one February incident: Bithumb suppose distribute about 620,000 won (≈$419) as rewards, but by mistake dem send 620,000 BTC. The transfer comot approvals and monitoring, no supervisory check or automatic threshold limit. After people wey receive am convert am quick, the matter turn final as e cause flash crash and chain liquidations. Stop-loss orders make the drop worse, late detection make “ghost coins” dey trade for about 35 minutes, and the fraud-detection system no fire. To prevent am again, BOK recommend make dem get crypto circuit breakers wey go pause trading during extreme price moves or abnormal order volumes. Dem also talk make real-time ledger verification dey so internal balances go match on-chain holdings, plus multilayer supervisory approval and system-enforced caps for high-value transfers. For BTC traders, the koko be say exchange operational risk — and the coming compliance upgrades wey get to do with “crypto circuit breakers” — fit affect intraday volatility even if long-term fundamentals never change.