What exactly was the Bithumb bitcoin glitch?

Bithumb mistakenly airdropped 620,000 BTC to 695 accounts, then froze activity and recovered 99.7% within 35 minutes. The error caused a rapid 17% intra-exchange drop as liquidity thinned. While broader markets held better, the event showed how operational issues at a single venue can trigger sharp, temporary price dislocations.

Did users profit from the mistaken bitcoin transfers?

Details are limited. Bithumb froze affected accounts quickly and reports say 99.7% of funds were recovered. That suggests little lasting leakage. Some users may have placed trades during the move, but the freeze and subsequent reviews reduce the chance of significant net gains from the Bithumb bitcoin glitch.

Is Bitcoin safe to buy after a flash crash like this?

Safety depends on venue, order type, and size. After a shock, spreads can widen and depth can be thin. If you buy, use limit orders, scale entries, and monitor liquidity. The Bithumb bitcoin glitch highlights exchange risk, so also review custody, security settings, and the broker or platform you use.

What should Swiss investors change in their setup now?

Split holdings across trusted platforms, enable whitelists and 2FA, and test withdrawals. Use limit orders and avoid large market orders during thin liquidity, especially in Asia hours. Mind CHF exposure when trading USD-quoted pairs. The Bithumb bitcoin glitch shows why venue controls and position sizing are as important as price targets.

Global Market Insights

BTCUSD Today: Bithumb $44B Glitch Triggers 17% Flash Crash — February 08

ByDanny Kontos February 8, 2026February 8, 2026

The Bithumb bitcoin glitch is the key driver of crypto headlines today. South Korea’s exchange mistakenly airdropped 620,000 BTC to 695 accounts, then froze activity and recovered 99.7% within 35 minutes. That error fueled a 17% intra-exchange Bitcoin flash crash and raised fresh questions about crypto exchange risk. For Swiss investors funding in CHF and trading BTCUSD, venue controls, liquidity, and regulation now matter as much as price. We explain what happened, what to watch, and how to adjust risk.