Trending Now - Bank of Korea Proposes Crypto Safeguards Following Bithumb Error

WHO:

Bitcoinist - The Bank of Korea (BOK) is involved in proposing new safeguards for the cryptocurrency industry.

Cointelegraph - Bithumb, a cryptocurrency exchange, is involved in the operational failure.

WHAT:

Bitcoinist - The Bank of Korea has urged the cryptocurrency industry to adopt stronger safeguards.

Cointelegraph - Bithumb accidentally sent customers 620,000 Bitcoin instead of 620,000 Korean won.

WHERE:

Bitcoinist - The proposal is relevant to the cryptocurrency industry in South Korea.

WHEN:

Cointelegraph - The erroneous transaction at Bithumb occurred in February 2026.

Bitcoinist - Comments from the Bank of Korea were made on Monday, April 11th, 2026.

WHY:

Bitcoinist - The Bank of Korea suggested that new mechanisms are needed to prevent mistakes like the one that occurred at Bithumb.

HOW:

Bitcoinist - The Bank of Korea proposed the implementation of "circuit breakers" for cryptocurrency exchanges to enhance operational safeguards.

(UPDATED April 13, 2026 23:16 UTC)

The Bank of Korea is urging the cryptocurrency industry in South Korea to adopt stronger safeguards following an operational failure at Bithumb, where the exchange accidentally sent customers 620,000 Bitcoin instead of 620,000 Korean won back in February. In response to this incident, the Bank of Korea proposed the implementation of "circuit breakers" for cryptocurrency exchanges to prevent similar mistakes in the future. These comments from the Bank of Korea were made on Saturday, highlighting the need for new mechanisms in the rapidly evolving crypto landscape.