Bitcoin ($BTC) recently experienced a sudden change at Bithumb, a famous South Korean cryptocurrency exchange. In this regard, $BTC/KRW trading suddenly plummeted by more than 10% below the global average. According to Lookonchain data, staff errors included 2,000 transfers. $BTCwhich led to this dramatic development in the midst of an airdrop campaign. After each move, several recipients quickly traded the assets they received.
#Bithumb's Bitcoin suddenly fell, trading more than 10% lower than the rest of the market.
According to reports, 2,000 people were sent due to a staff error during the airdrop. $BTC($133 million) in lieu of a small KRW fee.
Some users sold quickly, causing the price to drop rapidly. pic.twitter.com/X8Zjaq86Tq
— Lookonchain (@lookonchain) February 6, 2026
Bitham's Mistake 2K $BTC A 10% price drop occurred due to distribution.
Based on market data, 2,000 volatile transfers $BTC by Bithumb staff paved the way for a 10% drop in Bitcoin prices on cryptocurrency exchanges. As a result of this erroneous transfer, some recipients quickly sold the acquired assets. For this reason, $BTCThe /KRW pair fell 10% on Bithumb compared to the global average. This mistake occurred during Bithumb's airdrop campaign.
Specifically, the cryptocurrency exchange was scheduled to distribute a small amount of Korean Won (KRW) as a reward to recipients. Nevertheless, they accidentally sent up to 2,000. $BTC To all consumers. This number translates to a staggering $133 million in value. Therefore, many recipients sell their assets quickly, so $BTCThe /KRW pair has fallen significantly.
Traders engage in rapid selling activity to take advantage of price differences
According to Lookonchain, market statistics indicate massive selling pressure. $BTCBithumb's /KRW pair at the time. However, the discrepancy between Bithumb-based prices and prices on other crypto exchanges has created a notable arbitrage opportunity. Still, liquidity constraints limited traders and prevented them from fully exploiting the gap.
