The Bank of Korea: The virtual asset industry needs to introduce a mechanism similar to a "circuit breaker".

This article is machine translated
Show original

According to BlockBeats, on April 13, Newsis reported that the Bank of Korea stated that in order to prevent a recurrence of the incident known as the "Bithumb accidental release incident"—which involved the accidental release of Bitcoin worth trillions of won—it is necessary to introduce a "circuit breaker" mechanism in the virtual asset industry.

The Bank of Korea's payment and settlement report for last year, released on the 13th, included a review of the incident that occurred in February of this year: During the distribution of promotional bonuses, Bithumb made a mistake due to an employee's error, incorrectly entering Bitcoin as the unit of payment instead of Korean won. As a result, instead of the intended distribution of approximately 620,000 Korean won worth of Bitcoin, 620,000 Bitcoins (equivalent to approximately 60 trillion Korean won) were mistakenly distributed.

Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments