Bithumb Ledger Error Credited ~$43B in BTC; FSS Opens Probe, Exchange Recovers Most and Offers Compensation

South Korea’s Financial Supervisory Service (FSS) has opened an emergency probe after Bithumb mistakenly credited hundreds of user accounts with roughly 2,000 BTC each in an internal ledger error. The misallocation — internal only, with no on‑chain transfers — produced a paper aggregate figure reported at about $43 billion and triggered a rapid paper sell-off on Bithumb that briefly pushed the platform’s BTC price sharply lower (around $55,000 on Bithumb). Bithumb said it recovered 99.7% of the overcredited BTC; the remaining shortfall (~0.3%) was covered by company funds. The exchange halted trading and withdrawals for affected accounts, reclaimed most sold coins, and announced a compensation package: small connectivity compensation (20,000 won), full reimbursement plus 10% extra for users who sold at erroneous low prices, and one week of zero trading fees. Regulators flagged structural weaknesses in exchange ledger systems — including the display or distribution of so‑called “ghost coins” not backed by on‑chain assets — and warned of stricter supervision: on‑site inspections, punitive fines for IT incidents, expanded security disclosures, and stronger executive responsibility. The incident has intensified calls for faster digital‑asset legislation and improved real‑time reconciliation between internal ledgers and on‑chain reserves. For traders: the event underlines counterparty and operational risk at centralized exchanges, the potential for abrupt, localized price dislocations, and possible regulatory changes that could affect liquidity and exchange operations.