South Korean Lawmakers Slam Regulators Over Bithumb's $43 Billion Bitcoin Blunder

South Korean regulators are facing increased scrutiny after they failed to discover an issue with crypto exchange Bithumb’s internal systems, which led to $43 billion in Bitcoin accidentally being credited to user’s accounts earlier this month. Korea’s Financial Services Commission and Financial Supervisory Service (FSS) had both reviewed Bithumb at least three times since 2022, according to a local report from The Korea Times—yet the pair never found a structural input issue that ultimately led to the prob ...