Virtual asset exchange Bithumb has estimated customer losses from the Bitcoin overpayment incident to be around 1 billion KRW. Bithumb plans to compensate affected customers with the full amount of their losses plus an additional 10%. On the 7th, Bithumb CEO Jaewon Lee stated in a notice, "Cases where transactions were executed under unfavorable conditions for customers (panic selling) due to the sharp drop in Bitcoin prices have been confirmed."

The affected customers are those who sold Bitcoin at a low price between 7:30 PM and 7:45 PM the day before the overpayment incident occurred. Compensation will be automatically paid within a week after verifying transaction data. Additionally, Bithumb will provide 20,000 KRW compensation within a week to all customers who were logged into Bithumb services during the incident period.

As an additional measure, Bithumb has decided to waive all trading fees for all assets for one week. Furthermore, to immediately protect customer assets in the event of future incidents, Bithumb plans to establish and operate a "Customer Protection Fund" worth 100 billion KRW.

The incident occurred around 7 PM the previous day due to a system error. Bithumb mistakenly issued 620,000 Bitcoins to 695 participants of the "Random Box" event. Based on a Bitcoin price of 97.7 million KRW per coin, this resulted in an overpayment incident worth approximately 60 trillion KRW. Bithumb stated that most of the mistakenly issued Bitcoins were immediately recovered, but about 125 Bitcoins worth of Korean won and virtual assets have not yet been recovered.

CEO Jaewon Lee said, "We will take this incident as a lesson and prioritize customer trust and peace of mind over external growth," and added, "We sincerely apologize with a bowed head." He promised to take full responsibility to ensure that no customer losses occur.

Bithumb has proposed several measures to protect customers. They plan to enhance the asset verification system and improve the multi-approval system. They will also strengthen the AI system for detecting and automatically blocking abnormal transactions and conduct system audits by external professional organizations.

This incident has once again highlighted the importance of system stability and customer protection in virtual asset exchanges. Bithumb intends to continuously strive to regain customer trust.