As per the data from Lookonchain, a staff error, including the transfer of 2,000 $BTC, amid an airdrop campaign, led to this drastic development.As per the data from Lookonchain, a staff error, including the transfer of 2,000 $BTC, amid an airdrop campaign, led to this drastic development.

Bitcoin Price Plummets on Bithumb after Staff Error Transfers 2,000 $BTC

bitcoin28 main

Bitcoin ($BTC) has recently gone through a sudden shift on Bithumb, a well-known South Korean crypto exchange. In this respect, the $BTC/KRW trading abruptly plummeted over 10% below the worldwide averages. As per the data from Lookonchain, a staff error, including the transfer of 2,000 $BTC, amid an airdrop campaign, led to this drastic development. After the respective move, several recipients rapidly traded the assets they received.

Bithumb’s Mistaken 2K $BTC Distribution Ignites 10% Price Plunge

Based on the market data, the erratic transfer of 2,000 $BTC by Bithumb staff has paved the way for a 10% slump in Bitcoin’s price on the crypto exchange. As a result of that mistaken transfer, some recipients swiftly sold the assets they obtained. Due to this, the $BTC/KRW pair shed 10% on Bithumb in comparison with the worldwide averages. This mistake occurred amid the airdrop campaign of Bithumb.

Specifically, the crypto exchange was to distribute a small amount of Korean Won (KRW) as a reward for the recipients. Nonetheless, by mistake, they sent up to 2,000 $BTC to the consumers. The figure accounts for a stunning $133M when it comes to value. Thus, with many recipients selling the assets immediately, the $BTC/KRW pair slumped significantly.

Traders Engage in Rapid Sell-Off Activity to Exploit Price Gap

According to Lookonchain, the market statistics present a massive selling pressure on the $BTC/KRW pair on Bithumb at the time. However, the discrepancy between the Bithumb-based price and the price on the other crypto exchanges paved the way for notable arbitrage opportunities. Even then, the liquidity constraints posed limits to traders, keeping them from completely exploiting the gap.

Market Opportunity
Bitcoin Logo
Bitcoin Price(BTC)
$69,469.26
$69,469.26$69,469.26
+1.23%
USD
Bitcoin (BTC) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Trump will never allow a MAGA defeat - and the implications are unthinkable

Trump will never allow a MAGA defeat - and the implications are unthinkable

Last Aug. 18, Donald Trump sat across from Ukrainian President Volodymyr Zelensky in the Oval Office and posed a “question” that seemed, at the time, like nothing
Share
Rawstory2026/02/07 21:10
A Netflix ‘KPop Demon Hunters’ Short Film Has Been Rated For Release

A Netflix ‘KPop Demon Hunters’ Short Film Has Been Rated For Release

The post A Netflix ‘KPop Demon Hunters’ Short Film Has Been Rated For Release appeared on BitcoinEthereumNews.com. KPop Demon Hunters Netflix Everyone has wondered what may be the next step for KPop Demon Hunters as an IP, given its record-breaking success on Netflix. Now, the answer may be something exactly no one predicted. According to a new filing with the MPA, something called Debut: A KPop Demon Hunters Story has been rated PG by the ratings body. It’s listed alongside some other films, and this is obviously something that has not been publicly announced. A short film could be well, very short, a few minutes, and likely no more than ten. Even that might be pushing it. Using say, Pixar shorts as a reference, most are between 4 and 8 minutes. The original movie is an hour and 36 minutes. The “Debut” in the title indicates some sort of flashback, perhaps to when HUNTR/X first arrived on the scene before they blew up. Previously, director Maggie Kang has commented about how there were more backstory components that were supposed to be in the film that were cut, but hinted those could be explored in a sequel. But perhaps some may be put into a short here. I very much doubt those scenes were fully produced and simply cut, but perhaps they were finished up for this short film here. When would Debut: KPop Demon Hunters theoretically arrive? I’m not sure the other films on the list are much help. Dead of Winter is out in less than two weeks. Mother Mary does not have a release date. Ne Zha 2 came out earlier this year. I’ve only seen news stories saying The Perfect Gamble was supposed to come out in Q1 2025, but I’ve seen no evidence that it actually has. KPop Demon Hunters Netflix It could be sooner rather than later as Netflix looks to capitalize…
Share
BitcoinEthereumNews2025/09/18 02:23
Ozak AI Presale Moves Into Phase 6 With Price Reaching $0.012, Gains Top 1,100%

Ozak AI Presale Moves Into Phase 6 With Price Reaching $0.012, Gains Top 1,100%

The Ozak AI presale has officially entered Phase 6, pushing the token price to $0.012. The project has already provided over 1,100 percent returns to the first-round investors who have invested in it since its initial days. Over 902 million tokens have been sold, and over $3.2 million has been raised. The next phase will […] The post Ozak AI Presale Moves Into Phase 6 With Price Reaching $0.012, Gains Top 1,100%  appeared first on Live Bitcoin News.
Share
LiveBitcoinNews2025/09/18 20:00