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11 Feb 2026, 06:25

Bitcoin Price Plummets Below $67,000 as Market Volatility Intensifies

BitcoinWorld Bitcoin Price Plummets Below $67,000 as Market Volatility Intensifies Global cryptocurrency markets witnessed a significant downturn on Thursday, March 6, 2025, as the Bitcoin price broke below the critical $67,000 support level. According to real-time data from Bitcoin World market monitoring, BTC was trading at $66,983 on the Binance USDT pairing, marking a notable retreat from recent highs and sparking renewed discussions about market stability. This movement represents a pivotal moment for traders and investors analyzing the digital asset’s trajectory. Bitcoin Price Drops Below Key Psychological Level The descent of the Bitcoin price below $67,000 follows a period of consolidation. Market analysts immediately scrutinized the trading charts for underlying causes. Consequently, this price action triggered a wave of automatic sell orders across major exchanges. The Binance USDT market, representing one of the world’s largest liquidity pools, confirmed the $66,983 valuation. Furthermore, this decline reflects broader sentiment shifts within the digital asset ecosystem. Trading volume data suggests increased activity, often a precursor to heightened volatility. Historical patterns indicate that such breaks below round-number thresholds frequently lead to extended testing of lower support zones. Several technical indicators converged to signal this downturn. The 50-day moving average, a key benchmark for medium-term trends, acted as dynamic resistance. Meanwhile, the Relative Strength Index (RSI) dipped into neutral territory, losing its previous bullish momentum. On-chain data from analytics firms like Glassnode and CryptoQuant showed a slight increase in exchange inflows, hinting at potential selling pressure from larger holders. This combination of factors created a challenging environment for the flagship cryptocurrency. Analyzing the Drivers Behind Cryptocurrency Market Movements Multiple macroeconomic and sector-specific elements contributed to the downward pressure on the Bitcoin price. First, traditional finance markets exhibited caution ahead of key economic data releases. Bond yields and the U.S. Dollar Index (DXY) often exhibit an inverse correlation with crypto assets. Second, regulatory developments continue to influence investor confidence. Recent statements from financial authorities in major economies can create uncertainty. Third, the inherent volatility of the asset class means periodic corrections are a standard feature of its market cycle. The following table compares recent key Bitcoin price levels and their market significance: Price Level Market Significance Date Tested $69,000 Previous Cycle High (Resistance) Early March 2025 $67,000 Psychological Support / Break Level March 6, 2025 $65,500 Next Major Technical Support Not Yet Tested $63,000 200-Day Moving Average Zone Potential Support Market structure also plays a crucial role. The liquidation of leveraged long positions on derivatives exchanges can exacerbate price drops. Data from Coinglass showed millions in long positions were liquidated as the Bitcoin price crossed below $67,500. This creates a cascading effect that temporarily amplifies downward momentum. However, such events also frequently create conditions for a rebound as over-leverage is cleared from the system. Expert Perspectives on Current Market Conditions Financial analysts and cryptocurrency researchers provide essential context for this price action. For instance, Marcus Thielen, Head of Research at Matrixport, often correlates Bitcoin movements with liquidity conditions. He has previously noted that tightening financial conditions can pressure risk assets. Similarly, analysts at JPMorgan have published research linking Bitcoin’s volatility to fluctuations in the Nasdaq and tech stocks. This interconnection means the cryptocurrency market does not operate in a vacuum. On-chain analyst Willy Woo emphasizes the importance of network fundamentals. His models assess investor accumulation patterns. Despite short-term price volatility, long-term holder metrics often remain stable during such corrections. This suggests a difference between speculative trading activity and conviction investing. Furthermore, data from the Bitcoin futures market shows a shift in trader sentiment. The funding rate for perpetual swaps turned slightly negative, indicating that traders are paying to hold short positions. Historical Context and Volatility Cycles Bitcoin’s history is characterized by periods of intense volatility followed by consolidation. The current cycle, which began after the 2022 bear market, has seen several similar corrections. For example, a 15-20% pullback occurred in January 2025 after a strong rally. Historically, these drawdowns have served as healthy resets within broader bull trends. They allow the market to establish stronger foundations at higher price levels. Comparing current metrics to past cycles requires careful analysis of both price and on-chain adoption metrics. Key factors differentiating the 2025 market environment include: Institutional Adoption: Increased presence of regulated ETFs and corporate treasuries. Regulatory Clarity: Evolving but more defined frameworks in key jurisdictions. Macro Integration: Bitcoin is now more frequently discussed alongside traditional assets. Technological Maturity: Layer-2 solutions and improving infrastructure. This maturation process may moderate extreme volatility over time. However, the asset class remains fundamentally more volatile than established markets. Investors typically allocate portions of their portfolios accordingly. The recent price action below $67,000 serves as a reminder of this inherent characteristic. It also tests the resilience of newer market participants who entered during calmer periods. Conclusion The Bitcoin price falling below $67,000 represents a significant technical and psychological event for the cryptocurrency market. Trading at $66,983 on Binance, this movement triggers analysis of support levels, market sentiment, and macroeconomic drivers. While short-term volatility presents challenges, it also reflects the dynamic nature of a maturing asset class. Historical patterns suggest such corrections are normal within longer-term trends. Market participants will now watch for a test of the next support zone and evidence of renewed accumulation. The Bitcoin price action continues to be a primary indicator for the broader digital asset ecosystem. FAQs Q1: Why did the Bitcoin price fall below $67,000? The decline resulted from a combination of technical selling pressure after failing to hold support, liquidations of leveraged long positions, and cautious broader market sentiment ahead of economic data. Q2: What is the significance of the $67,000 level for Bitcoin? The $67,000 level acted as a key psychological and technical support zone. A break below it often triggers automated selling and leads the market to test the next significant support level, around $65,500. Q3: How does this price movement affect the overall cryptocurrency market? Bitcoin remains the market leader, so a sharp decline typically pressures altcoins and the total market capitalization. It can increase overall volatility and influence trader sentiment across all digital assets. Q4: Where can I find reliable, real-time Bitcoin price data? Reputable sources include data aggregators like CoinGecko and CoinMarketCap, as well as trading views on major exchanges like Binance, Coinbase, and Kraken. Always cross-reference data from multiple platforms. Q5: Is this a normal occurrence for Bitcoin? Yes, volatility and corrections of 10-20% are historically common within Bitcoin’s market cycles, even during longer-term bullish trends. They are considered a standard characteristic of the asset class. This post Bitcoin Price Plummets Below $67,000 as Market Volatility Intensifies first appeared on BitcoinWorld .

11 Feb 2026, 06:05

USD/INR Exchange Rate Holds Steady as Indian Rupee Surges on Remarkable Foreign Inflows

BitcoinWorld USD/INR Exchange Rate Holds Steady as Indian Rupee Surges on Remarkable Foreign Inflows MUMBAI, India – March 2025: The USD/INR currency pair is demonstrating notable resilience, holding a stable trading range even as the Indian Rupee exhibits significant appreciation pressure. This dynamic stability, rather than a sharp devaluation of the dollar pair, underscores a complex interplay of robust foreign capital inflows, deliberate central bank management, and strengthening domestic economic fundamentals. Consequently, market participants are closely analyzing whether this marks the beginning of a sustained bullish phase for the INR or a carefully managed recalibration. USD/INR Exchange Rate Maintains Defensive Position The Indian Rupee has recently posted consistent gains against the US Dollar, with the USD/INR pair testing key support levels. Market data reveals the pair consolidating within a defined band, a movement that signals controlled strength rather than volatile speculation. This price action primarily reflects substantial foreign portfolio investment (FPI) flowing into Indian equity and debt markets. Global investors are demonstrably reallocating capital towards India, attracted by its relative macroeconomic stability and growth prospects compared to other emerging markets. Furthermore, narrowing trade deficits and resilient service exports provide fundamental support for the currency’s valuation. Historical context illuminates this trend. For instance, the Rupee has weathered global monetary tightening cycles better than many peers. Analysts often compare the current inflows to similar episodes in the past decade, where India’s deep domestic markets acted as a buffer. The Reserve Bank of India’s (RBI) stated policy of curbing excessive volatility also plays a crucial role. By intermittently absorbing dollar inflows, the central bank builds foreign exchange reserves while preventing a disorderly, overly rapid appreciation that could hurt exporters. Drivers Behind the Indian Rupee’s Strength Several interconnected factors are fueling the Rupee’s appreciation momentum. First, foreign institutional investment has turned decisively positive across both primary and secondary markets. Second, India’s inclusion in major global bond indices has triggered predictable, long-term debt inflows. Third, the country’s digital infrastructure and manufacturing push enhance its appeal as a destination for foreign direct investment (FDI). Sustained Equity Inflows: Indian stock markets continue to attract foreign capital, driven by strong corporate earnings and stable policy expectations. Bond Index Inclusions: Passive funds tracking global indices are now mandated to allocate billions to Indian government bonds, creating a structural inflow. Services Export Surplus: India’s robust IT and business services exports generate a consistent dollar supply, strengthening the balance of payments. Moreover, relative inflation differentials between the US and India have begun to stabilize, reducing one traditional pressure point on the Rupee. The following table summarizes key supportive factors: Factor Impact on INR Evidence/Indicator FPI Inflows Direct Dollar Supply Increase Net positive FPI data for consecutive months Trade Balance Reduced Current Account Pressure Narrowing merchandise trade deficit Central Bank Reserves Market Confidence & Intervention Capacity RBI forex reserves at robust levels Global Risk Sentiment Increased EM Allocation India’s outperformance vs. peer currencies Central Bank Strategy and Market Implications The Reserve Bank of India faces a classic policy trilemma: managing the exchange rate, allowing free capital movement, and maintaining monetary independence. Its current actions suggest a preference for building reserves and smoothing volatility without fundamentally resisting a trend driven by fundamentals. This approach aims to prevent disruptive ‘hot money’ flows while ensuring exporters remain competitive. For businesses, a stronger but stable Rupee lowers import costs and external debt servicing burdens, potentially boosting corporate profitability. However, sectors reliant on export competitiveness, like textiles and certain agricultural products, must adapt to a marginally less favorable exchange rate environment. Expert Analysis on Sustainable Appreciation Financial economists emphasize that the quality of inflows matters more than the quantity. ‘The current inflows show a mix of strategic FDI and index-driven passive debt, which is stickier than speculative equity flows,’ notes a senior analyst at a leading financial research firm. ‘This provides a more durable foundation for currency strength. The critical watchpoint will be the real effective exchange rate (REER). If the Rupee appreciates beyond what is justified by productivity gains, it could self-correct by making imports cheaper and exports dearer.’ This analysis highlights that sustainable appreciation hinges on continued productivity improvements and economic reforms, not just capital flows. The global context remains pivotal. The trajectory of US Federal Reserve policy, geopolitical stability, and crude oil prices are eternal external variables for the INR. A sharp rise in oil prices could quickly widen the trade deficit, applying depreciation pressure. Therefore, while the near-term momentum is positive, the medium-term path for USD/INR will be dictated by a balance between these domestic strengths and global headwinds. Conclusion The USD/INR exchange rate is currently characterized by stability amidst underlying strength for the Indian Rupee. This scenario is primarily driven by substantial and diversified foreign inflows, supported by sound economic fundamentals and proactive central bank management. While this trend benefits the economy by lowering inflation and strengthening the country’s external position, its sustainability depends on continued structural reforms and stable global conditions. Market participants should therefore monitor both inflow composition and key macroeconomic indicators to gauge the future trajectory of the USD/INR pair. FAQs Q1: Why is the USD/INR rate stable if the Rupee is strengthening? The stability reflects managed appreciation. The Reserve Bank of India likely intervenes to absorb excess dollar inflows, preventing a too-rapid rise that could harm exports, thus keeping the USD/INR pair in a controlled range. Q2: What are ‘foreign inflows’ in this context? They refer to foreign capital entering India, primarily as Foreign Portfolio Investment (FPI) in stocks and bonds, and Foreign Direct Investment (FDI) into companies and projects. This capital must be converted to Rupees, increasing demand for the INR. Q3: How does a stronger Rupee affect the common person in India? It can make imported goods like electronics, fuel, and edible oil cheaper, potentially lowering inflation. However, it can also make Indian exports more expensive for foreign buyers, which may impact jobs in export-oriented sectors. Q4: Is this Rupee strength likely to last? While the drivers are currently strong, currency markets are volatile. Lasting strength depends on continued foreign investment, controlled inflation and trade deficits in India, and stable global factors like oil prices and US interest rates. Q5: What is the difference between the USD/INR rate and the Rupee’s real effective exchange rate (REER)? USD/INR is the bilateral rate against the US Dollar. REER is a weighted average against a basket of currencies of major trading partners, adjusted for inflation differences. It is a better measure of overall competitiveness. This post USD/INR Exchange Rate Holds Steady as Indian Rupee Surges on Remarkable Foreign Inflows first appeared on BitcoinWorld .

11 Feb 2026, 06:00

EU Proposes Ban On Russian Crypto Transactions To Crack Down Sanctions Evasion – Report

As Russia moves to regulate the crypto sector later this year, the European Union (EU) is considering implementing strict sanctions on all digital asset transactions linked to the country to curb sanctions evasion. EU Seeks Sanctions On Russian Crypto Transactions On Tuesday, the Financial Times (FT) reported that the European Commission (EC) is evaluating measures to prohibit all crypto transactions with Russia, stepping up its efforts to crack down on the country’s use of digital assets to evade sanctions. According to documents reviewed by the FT, the Commission has seemingly proposed a broader prohibition “instead of attempting to ban copycat Russian crypto entities spun out of already sanctioned platforms.” “In order to ensure that sanctions achieve their intended effect [the EU] prohibits to engage with any crypto asset service provider, or to make use of any platform allowing the transfer and exchange of crypto assets that is established in Russia,” explained the internal document outlining the proposed sanctions. The Commission argued that “any further listing of individual crypto asset service providers … is therefore likely to result in the set-up of new ones to circumvent those listings.” Notably, the proposal reportedly focuses on preventing the growth of successors to the Russia-linked crypto exchange Garantex. In 2022, the US sanctioned the platform for “operating as the exchange of choice for cybercriminals”. Moreover, the document is aimed at the payments platform A7, a company reportedly conceived as a mechanism to facilitate cross-border trades due to sanctions imposed after Russia invaded Ukraine, and its connected ruble-pegged stablecoin A7A5, previously used by Garantex to transfer funds to Kyrgyz exchange Grinex. As reported by Bitcoinist, the EU, UK, and US have adopted restrictive measures against the payment platform. Despite this, recent reports revealed the stablecoin has an aggregate transaction volume of $100 billion. In addition, the EC suggested adding 20 banks to the list of sanctioned entities and a ban on any digital ruble-related transactions. The Commission also proposed a ban on the export of certain dual-use goods to Kyrgyzstan, claiming that local companies have sold prohibited goods to Russia. Nonetheless, imposing the measures would require the unanimous support of member states, and three of the bloc’s countries have reportedly expressed doubts, three diplomats briefed on discussions told the FT. Russia’s Digital Assets Landscape The potential crackdown comes as Russia continues to develop its upcoming digital assets framework. The CBR recently unveiled its comprehensive regulatory proposals to enable retail and qualified investors to buy digital assets through licensed platforms in the country. Last month, the Committee on State Building and Legislation at the State Duma also advanced a bill to regulate the seizure of crypto assets in criminal proceedings and reduce the risks associated with the use of digital assets in criminal activities, including money laundering, corruption, and terrorist financing. Meanwhile, Russia’s largest bank by assets, Sberbank, recently announced that it is preparing to offer crypto-backed loans to corporate clients following strong corporate interest. The bank affirmed its readiness to work with the Central Bank of Russia (CBR) to develop regulations, and it is finalizing the necessary infrastructure and procedures for potential scaling of crypto-backed lending.

11 Feb 2026, 05:30

Kraken‑Backed Tokenized Stocks Launch in the EU for Deutsche Börse Group Clients

xStocks tokenized equities launch on 360X, enabling Deutsche Börse Group clients to trade five tokenized securities against stablecoins. Kraken‑backed xStocks are now tradable on 360X, a BaFin‑ and ESMA‑regulated secondary venue owned by Deutsche Börse Group, allowing institutional clients on 360X to trade CRCLx, GOOGLx, NVDAx, SPYx, and TSLAx against stablecoins; the listing follows the

11 Feb 2026, 05:10

USDT Transfer Stuns Market: 200M Whale Move to Binance Signals Major Shift

BitcoinWorld USDT Transfer Stuns Market: 200M Whale Move to Binance Signals Major Shift A seismic shift in the digital asset landscape occurred recently when blockchain tracking service Whale Alert reported a staggering 200,000,000 USDT transfer from an unknown wallet to the global cryptocurrency exchange Binance. This transaction, valued at approximately $200 million, immediately captured the attention of traders, analysts, and institutions worldwide. Consequently, the market began scrutinizing the potential motives and implications behind such a substantial movement of stablecoin liquidity. This analysis delves into the mechanics, context, and probable outcomes of this significant event. USDT Transfer Mechanics and Immediate Context The transaction involved Tether’s USDT, the world’s largest stablecoin by market capitalization. Whale Alert, a prominent blockchain tracker, publicly flagged the movement on its social channels. The funds originated from a wallet address with no known public affiliation, commonly termed an ‘unknown wallet’ in blockchain parlance. Subsequently, the destination was clearly identified as a known Binance exchange wallet. This process highlights the transparent yet pseudonymous nature of public blockchains like Tron or Ethereum, where USDT commonly operates. To understand the scale, consider comparative data. The table below lists notable recent large stablecoin transfers for context. Date Amount From To Potential Context Recent 200M USDT Unknown Wallet Binance Market Preparation, Collateral Q4 2024 150M USDC Institution Coinbase Institutional Onramp Q3 2024 85M USDT Exchange Unknown OTC Desk Withdrawal Furthermore, such a deposit typically precedes several key actions. The entity behind the transfer likely aims to execute a large trade, provide liquidity, or secure assets on the exchange platform. Importantly, the timing relative to broader market conditions offers crucial insights. Analyzing the Impact on Cryptocurrency Markets Major stablecoin inflows to centralized exchanges like Binance often serve as a leading indicator for market sentiment. Analysts from firms like Glassnode and CryptoQuant regularly monitor these flows. A deposit of this magnitude can signal two primary scenarios. First, a large investor, or ‘whale,’ may be preparing to purchase other cryptocurrencies, potentially bullish for asset prices like Bitcoin or Ethereum. Second, it could represent a move to park capital in a secure, liquid environment during periods of volatility. Historical precedent shows similar large USDT movements preceding notable market rallies. For instance, significant exchange inflows in early 2023 correlated with a sustained price increase across major assets. However, correlation does not equal causation. Market makers and institutional trading desks also utilize these transfers for routine operations. Therefore, analysts cross-reference this data with other metrics: Exchange Netflow: The balance between inflows and outflows. Open Interest: Changes in derivatives market positions. Order Book Depth: Liquidity available at different price points. Currently, the market’s reaction remains measured. No immediate, drastic price spike followed the announcement. This suggests seasoned participants anticipated or understood the move’s context. Expert Perspective on Whale Wallet Strategies Blockchain intelligence experts emphasize the importance of pattern recognition. While the originating wallet is ‘unknown,’ its history may reveal patterns. Analysts can investigate the wallet’s past transactions for frequency, counterparties, and asset types. A wallet that routinely makes large transfers before market events differs from one executing its first major transaction. According to principles of behavioral finance, whale actions often create a herd effect among retail traders. Regulatory bodies also monitor these flows for compliance with Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) frameworks. Exchanges like Binance have sophisticated monitoring tools to flag unusual activity for review. Consequently, a transparent, reported transfer of this size likely passed internal compliance checks, indicating it is part of legitimate market activity rather than illicit finance. The Role of Stablecoins in Modern Finance This event underscores the critical role of stablecoins like USDT in the crypto ecosystem. They act as the primary on-ramp, off-ramp, and trading pair liquidity source. A $200 million transfer is a testament to the scale of digital asset markets. Tether Limited, the issuer of USDT, regularly publishes attestations regarding its reserves, which back each token. This transparency aims to maintain trust in the peg to the US dollar. Moreover, the efficiency of this transaction is notable. Settling $200 million across borders in minutes at low cost demonstrates blockchain’s value proposition for value transfer. Traditional banking systems would involve higher fees, longer delays, and multiple intermediaries. This efficiency drives institutional adoption for treasury management and cross-border settlements. Conclusion The 200 million USDT transfer to Binance represents a significant but not uncommon event in the maturing cryptocurrency market. It highlights the substantial capital movements that occur daily on public blockchains. While the immediate market impact appears contained, the transfer provides valuable data points for analysts regarding whale behavior and liquidity positioning. Ultimately, such transparency is a cornerstone of the blockchain industry, allowing for real-time analysis and fostering a more informed market environment. Monitoring subsequent flows and trading activity will be crucial to fully deciphering this major USDT movement’s long-term significance. FAQs Q1: What does a large USDT transfer to an exchange usually mean? Typically, it indicates that a large holder is preparing to trade. They may convert USDT into other cryptocurrencies like Bitcoin, use it for margin trading collateral, or simply hold it in a secure exchange wallet for future use. Q2: How can a wallet be ‘unknown’ on the blockchain? Blockchains are pseudonymous. While every transaction is public and traceable, the real-world identity behind a wallet address is not recorded on-chain unless the owner publicly associates themselves with it. ‘Unknown’ simply means no such public association exists. Q3: Does this kind of transfer affect the price of USDT itself? Usually, it does not. USDT is designed to maintain a 1:1 peg with the US dollar. Large transfers between wallets do not change the total supply in circulation. The stability depends on Tether’s reserve management, not transactional activity. Q4: What is the difference between USDT being sent to Binance versus being withdrawn? An exchange inflow (to Binance) generally suggests an intent to use the capital on the platform for trading or services. An outflow (from Binance) often indicates a move to cold storage or a private wallet for long-term holding, potentially signaling a decrease in immediate selling pressure. Q5: Are transactions like this safe and legal? Blockchain transactions are cryptographically secure. Their legality depends on the source of funds and the purpose, governed by the jurisdictions of the involved parties. Reputable exchanges like Binance conduct compliance checks on large deposits to adhere to global financial regulations. This post USDT Transfer Stuns Market: 200M Whale Move to Binance Signals Major Shift first appeared on BitcoinWorld .

11 Feb 2026, 05:00

South Korean lawmakers questioned Bithumb’s CEO after the exchange mistakenly transferred 620,000 Bitcoin, more than 12 times its actual holdings.

South Korea’s National Assembly lit into Bithumb CEO Lee Jae-won after the exchange mistakenly transferred 620,000 Bitcoin, a number more than 12 times its actual holdings. That mistake, worth around $40 billion, triggered sharp questions about the exchange’s sloppy internal systems and how this kind of mess was even possible. Appearing before the National Policy Committee on the 11th, Jae-won admitted that Bithumb only reconciles its internal ledger with actual crypto assets once per day. “The time it takes for Bithumb to align its virtual currency holdings and circulation volume is one day,” he said. The exchange basically collects transaction data for 24 hours, then adjusts the real holdings the next day, meaning there’s always a full-day blind spot. “We acknowledge that the system for cross-verifying the amount to be transferred and the held amount was not reflected in this incident,” Jae-won added. Regulator blasts Bithumb’s outdated system and demands new laws Meanwhile, the Financial Supervisory Service (FSS)’s chief Lee Chan-jin told lawmakers that real-time verification must become the standard. “Even 5 minutes is not short but rather very long,” Chan-jin said, referring to Upbit, a rival exchange that reconciles holdings every five minutes. He called for lawmakers to include mandatory real-time systems in the next stage of digital asset regulation. “Only when interlinked systems are in place where actual holdings and ledger balances align in real time can systemic safety be ensured,” Chan-jin told the Parliarment. The core problem is that Bithumb stores all its data in internal ledgers, not directly on-chain. Unlike blockchain records that are distributed across users’ computers and take time to confirm, Bithumb’s ledgers work more like spreadsheets. That delay is what allowed them to send out 620,000 Bitcoin they never actually owned. And that’s a lot more than just a technicality. Jae-won had earlier admitted that the company had no system in place to prevent that transfer in real time. Bitcoin fire sale triggered price drop, liquidations, and lawsuits In the 35 minutes before Bithumb froze affected accounts , 86 users sold about 1,788 Bitcoin. Some transferred proceeds to personal bank accounts. Others used the crypto to buy different tokens, according to local reports. This unexpected dump tanked prices temporarily on Bithumb’s platform. Jae-won acknowledged the two biggest areas of damage were the “panic selling” and the forced liquidation of over 30 users who had pledged Bitcoin as collateral. The CEO said, “We are considering two areas as targets for damage relief.” The sharp price fall triggered automatic margin calls and liquidations for people who had no clue the platform was malfunctioning. Chan-jin called the whole thing “catastrophic” for affected customers. Since Bitcoin has since bounced higher, anyone who has to return coins now might lose money. The government fears lawsuits may follow. Bithumb says it has already fixed 99.7% of the errors internally by reversing ledger entries. It’s now talking directly with around 80 customers who cashed out, asking them to return the Korean won equivalent… voluntarily, for now. The exchange is trying to avoid lawsuits, because under civil law, courts could demand that customers return the original Bitcoin rather than the cash. In a public apology, Bithumb said, “Bithumb takes this incident very seriously and will do its utmost to prevent recurrence by redesigning the entire asset payment process and enhancing the internal control system.” The company also claimed, “This incident is unrelated to any external hacking or security breach, and does not pose any issues with system security or customer asset management.” Get seen where it counts. Advertise in Cryptopolitan Research and reach crypto’s sharpest investors and builders.