A South Korean cryptocurrency exchange mistakenly credited users with billions in Bitcoin instead of small cash rewards, triggering a flash crash on its platform. The error was corrected within minutes, but not before users sold over $2 billion worth of phantom Bitcoin. The incident highlights the risks of internal ledger errors in centralized exchanges.
about Bithumb's $95B Bitcoin Error Triggers Flash CrashBithumb
0 in Finance and 2 in Crypto last weekBithumb Flash Crash Exposes Bitcoin L2 Need; $HYPER Presale Hits $31M
A sudden, violent flash crash on South Korea’s Bithumb exchange, sparked by rumors of a 2,000 BTC airdrop error, has laid bare the critical liquidity vulnerabilities plaguing centralized crypto trading venues. This high-velocity event, which saw order books evaporate and the famed ‘Kimchi Premium’ briefly invert, is accelerating a capital rotation away from volatile spot markets and toward infrastructure projects that solve Bitcoin’s foundational speed and cost limitations. At the forefront of this shift is Bitcoin Hyper ($HYPER), a protocol leveraging Solana’s technology to build a high-speed Layer 2 for Bitcoin, whose presale has surged past $31 million on the back of this compelling narrative.
about Bithumb Flash Crash Exposes Bitcoin L2 Need; $HYPER Presale Hits $31MMirae Asset Acquires Korbit Crypto Exchange for $70-100M
In a strategic move that underscores traditional finance’s deepening interest in digital assets, South Korea’s Mirae Asset Group is acquiring cryptocurrency exchange Korbit in a deal valued between $70 million and $100 million. The transaction, structured through the group’s non-financial subsidiary, Mirae Asset Consulting, aims to navigate strict local regulations while positioning the financial conglomerate within the country’s expanding crypto sector. This acquisition highlights the complex interplay between established financial institutions and the evolving digital asset landscape in one of Asia’s most active markets.
about Mirae Asset Acquires Korbit Crypto Exchange for $70-100MBitcoin Tests Key Support at $105K Amid Market Weakness
Bitcoin is trading around $106,768, showing signs of weakness after falling below critical support levels. The cryptocurrency faces pressure from macro headwinds and substantial liquidations, with sentiment hitting ‘extreme fear’ levels. Analysts warn that failure to hold key support could trigger further declines toward $94,000.
about Bitcoin Tests Key Support at $105K Amid Market WeaknessBithumb VP Suicide Amid Stock Manipulation Probe
Park Mo, Vice President of Vidente and key figure in Bithumb’s ownership structure, has died by suicide while under investigation for financial crimes. The tragedy exposes deepening legal troubles at one of South Korea’s largest cryptocurrency exchanges. Authorities were investigating allegations of stock price manipulation and embezzlement involving Bithumb’s controlling shareholders, revealing a complex web of financial misconduct that extends throughout the exchange’s corporate structure.
about Bithumb VP Suicide Amid Stock Manipulation ProbeBinance Wins Approval for Majority Control of Korea’s GOPAX
Binance has secured regulatory approval to take majority control of South Korean crypto exchange GOPAX, ending a two-year regulatory impasse that had blocked the global crypto giant’s return to the Korean market. The decision by South Korea’s Financial Intelligence Unit allows Binance to restart operations, address user repayments tied to Genesis Global Capital’s collapse, and position itself against dominant local exchanges Upbit and Bithumb. While marking significant regulatory closure for Binance, analysts expect minimal immediate market disruption given the entrenched positions of incumbent players.
about Binance Wins Approval for Majority Control of Korea's GOPAXBinance Returns to South Korea After 4-Year Absence
Binance has officially returned to the South Korean market after nearly five years, following regulatory approval of its acquisition of local exchange Gopax. The world’s largest cryptocurrency exchange’s reentry could disrupt the long-standing dominance of Upbit and Bithumb. This development comes alongside other major Asian financial institutions expanding their digital asset operations, signaling a significant shift in the region’s crypto landscape.
about Binance Returns to South Korea After 4-Year AbsenceXRP Whale Activity Signals Potential Major Sell-Off
Recent data reveals concerning patterns in XRP whale behavior that could signal an impending market correction. Analysis shows increased XRP supply across major exchanges alongside bearish signals in the futures market. These developments put the cryptocurrency’s recent gains at risk as it struggles to maintain the $3 support level.
about XRP Whale Activity Signals Potential Major Sell-OffTrump-Linked WLFI Burns $1.43M in Tokens After Buyback
World Liberty Financial (WLFI), the cryptocurrency venture linked to former US President Donald Trump, has executed a major token burn following a community-approved buyback program. The project destroyed 7.89 million WLFI tokens worth approximately $1.43 million across multiple blockchains. This strategic move aims to reduce circulating supply and strengthen token economics amid recent price pressures.
about Trump-Linked WLFI Burns $1.43M in Tokens After BuybackAsian Crypto Returns Outpace US and EU by 46%
Asian cryptocurrency markets have delivered significantly higher cumulative returns compared to Western counterparts over the past year, with 46% returns versus 31% in the US and 29% in the EU. This remarkable divergence stems from surging APAC trading volumes and regulatory developments in key jurisdictions like Hong Kong. However, analysts caution that while Asian momentum is undeniable, US policy and institutional flows remain crucial determinants for sustaining the current bull cycle’s longevity.
about Asian Crypto Returns Outpace US and EU by 46%WLFI Expands in Asia with Bithumb Deal, Apple Pay Card
World Liberty Financial (WLFI), the cryptocurrency project associated with former U.S. President Donald Trump, is aggressively pursuing international growth through strategic Asian alliances and consumer product innovation. Despite a challenging market environment that has seen its token price decline approximately 10% over the past month, WLFI has secured a memorandum of understanding with South Korean crypto exchange giant Bithumb and announced plans for an Apple Pay-integrated debit card. These dual initiatives represent a coordinated effort to establish a stronger foothold in Asia’s rapidly expanding cryptocurrency ecosystem while simultaneously boosting everyday utility for its USD1 stablecoin.
about WLFI Expands in Asia with Bithumb Deal, Apple Pay CardAVNT Token Surges 50% After Binance, Upbit Listings
The cryptocurrency market witnessed another dramatic surge as Avantis (AVNT), a newly launched digital asset, exploded by 50% to reach a new all-time high above $1.50 following simultaneous listings on three of the world’s largest cryptocurrency exchanges. Despite explicit warnings from Binance about the token’s high-risk nature and volatility, the institutional backing from these platforms propelled AVNT’s market capitalization from $170 million to over $300 million within just 24 hours, creating both excitement and caution among traders and analysts.
about AVNT Token Surges 50% After Binance, Upbit Listings