The Bithumb case is getting interesting...
At the moment of the 620 thousand Bitcoin being sent to their clients by mistake, Bithumb had only 175 Bitcoins in their books... 👀
So, Bithumb internal system treated non-existent Bitcoin as real! 🤔
This is not going to end well for the exchange, a fat fine should come soon after and regulation for reserves integrity is key... Wonder how many CEXs have reserve integrity and proper audits...
#Bithumb
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I think it's going to be interesting to see if any employees or "special customers" are among the 700 who received the fake coins and then sold them off.
Was this really an accident or was it a theft they covered up as a glitch?
Wild
Good question