A major incident, yet the CEO still wants re-election? In February, Bithumb made a egregious mistake during a promotional event—mistakenly distributing approximately 620,000 bitcoins to users, 15 times the platform's actual holdings. The incident was brought under control within 35 minutes, and 99.7% of the assets were reportedly recovered, but the fact that its internal risk control was practically non-existent was exposed. Regulators intervened immediately. South Korea's Financial Intelligence Organisation (FIO) fined Bithumb: a six-month suspension of some operations, a $24 million anti-money laundering fine, a warning to CEO Lee Jae-won, and a six-month suspension of the whistleblower. Now, Bithumb's answer is—to let Lee Jae-won serve another two years. His re-election proposal will be reviewed at the shareholders' meeting on March 31, citing "maintaining operational continuity and stability" as the reason. Compare this to its peers: Upbit's CEO, after receiving a warning from the FIU, chose to become an advisor, voluntarily withdrawing from frontline work. Bithumb has taken a completely different path. Using "stability" to defend a controversial CEO sounds particularly ironic after a crisis stemming from ineffective internal controls. The shareholders' meeting is nine days away. The market is watching to see the outcome.