Diesen Artikel teilen
South Korean Exchange Loses $5 Million in Accidental Bitcoin Airdrop
South Korean exchange Coinzest reportedly lost around $5 million when it airdropped bitcoin and other cryptocurrencies instead of WGT.
Von Nikhilesh De
Make us preferred on Google
South Korean crypto exchange Coinzest is looking to take back cryptocurrencies accidentally sent to clients in an airdrop.
The exchange announced last week that some 6 billion Korean won (around $5.3 million) in bitcoin and other cryptocurrencies were sent to customers due to a computer error, according to CoinDesk Korea. The exchange was trying to airdrop We Game Tokens (WGT) when the incident occurred.
STORY CONTINUES BELOW
Verpassen Sie keine weitere Geschichte.Abonnieren Sie noch heute den Crypto Daybook Americas Newsletter. Alle Newsletter ansehen
Further, due to the server issue, some customers also received Korean won from the exchange. The exchange has no plans to compensate users for any losses suffered through its server issues.
Coinzest's server issues were resolved by Jan. 19, and the company plans to roll back transactions to restore its assets. It has also asked customers to return funds they received by mistake.
As of Jan. 19, about half of the won was returned.
Some traders who received bitcoin instead of WGT reportedly sold their new holdings immediately, causing bitcoin's price to flash-crash to $50.
Correction: This article previously referred to the exchange as Coinnest. The exchange which airdropped bitcoin was Coinzest. CoinDesk regrets the error.
South Korean won image via Shutterstock
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Here’s why bitcoin’s is failing its role as a 'safe haven' versus gold
Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash.
What to know:
- During recent geopolitical tensions, Bitcoin lost 6.6% of its value, while gold rose 8.6%, demonstrating bitcoin's vulnerability in times of market stress.
- Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash, contrary to its reputation as a stable digital asset.
- Gold remains the preferred hedge for short-term risks, while bitcoin is better suited for long-term monetary and geopolitical uncertainties that unfold over years.
Top Stories
