Bitcoin's value on Bithumb, one of the leading cryptocurrency exchanges in South Korea, experienced a significant decline today as it dropped 10% below the global market price. This price plunge followed a mishap where an exchange employee mistakenly distributed 2,000 Bitcoin to numerous users during an airdrop. Reports indicate that a staff member intended to allocate 2,000 Korean won, valued at less than $2, for a random box prize but inadvertently input BTC instead.
Following this error, the recipients of the accidental BTC deposits swiftly sold their assets, applying immediate downward pressure on Bithumb's Bitcoin trading pairs in comparison to prices on other exchanges. Despite the initial drop, Bitcoin's price on Bithumb has since rebounded above $66,000, recovering from a low point of approximately $56,000. This incident serves as a reminder of the potential volatility within cryptocurrency markets and the unpredictable nature of trading activities.