A South Korean crypto exchange mistakenly credited users with billions in Bitcoin, causing a flash crash in token value. Instead of 2,000 won, users received 2,000 BTC worth $142 million. Bithumb clarified 620,000 BTC ($43 billion) was credited, not over $95 billion as initially estimated.

Users attempted to sell off $2 billion of the phantom Bitcoin, causing a price plunge to $55,000. The price of Bitcoin on most exchanges fell to $60,000 before rebounding to $71,047. Bithumb emphasized the incident was not due to hacking or security issues and did not result in customer losses.

Bithumb recovered 618,212 BTC of the credited funds and clawed back 1,788 BTC from sold assets. The exchange is working to recover remaining assets and will adjust any unrecovered BTC using company assets.

Read more at Yahoo Finance: South Korean Crypto Exchange Accidentally Gave Away $43 Billion in Bitcoin