Bithumb Bitcoin | Crypto

Lawmakers criticize South Korea’s Financial Services Commission after Bithumb mistakenly credited 620,000 BTC and the probe faces delays. South Korean lawmakers are stepping up pressure on financial regulators after crypto exchange Bithumb mistakenly credited customers with Bitcoin it did not hold, an error that briefly sparked a rush to sell and renewed questions about oversight of the country’s fast-growing digital-asset market. Lawmakers said the Financial Services Commission (FSC) failed to detect critical flaws in Bithumb’s internal systems despite at least three inspections since 2022, The Korea Times reported Thursday. Representative Kang Min-guk of the main opposition People Power Party said the incident was more than a technical mishap, claiming structural weaknesses in the crypto market, including gaps in regulation and oversight. Read more

South Korea’s financial watchdog detailed planned investigations into high-risk trading tactics as it prepares the next phase of crypto regulation, Yonhap News Agency reported. South Korea’s Financial Supervisory Service (FSS) said it will step up scrutiny of suspected cryptocurrency price manipulation in 2026, outlining a slate of planned investigations that target high-risk trading tactics, including “whale” activity and schemes that exploit disruptions at local exchanges, local outlet Yonhap reported Monday. According to Yonhap News Agency, FSS Governor Lee Chang-jin said that the agency will target high-risk trading practices that undermine market order, including coordinated manipulation and schemes exploiting disruptions in exchange infrastructure.  The FSS said the probes will focus on tactics that involve large-scale trading by whales, artificial price swings during exchange deposit or withdrawal suspensions and coordinated trading mechanisms using APIs or social media to spread false information.  Re...