The South Korean cryptocurrency exchange Bithumb disclosed that it had accidentally given its customers more than 620,000&nbsp;BTC (~$44&nbsp;billion) in a promotional event gone wrong. Intending to reward each customer with at least ₩2,000 (~$1.40), the exchange accidentally rewarded each customer at least 2,000&nbsp;BTC (almost $140&nbsp;million).<p>The exchange announced that they had recovered 99.7% of the erroneously awarded tokens, leaving around 1,860&nbsp;BTC (~$130&nbsp;million) unaccounted for.</p><p>The incident has drawn further scrutiny from Korean regulators, who said that the error "has exposed the vulnerabilities and risks of virtual assets." Regulatory agencies in the country had already been cracking down on crypto firms following a <a href="https://www.web3isgoinggreat.com/?id=upbit-hack" target="_blank">$30&nbsp;million hack of the Upbit crypto exchange</a> in November 2025.</p>

"South Korean crypto firm accidentally sends $44 billion in bitcoins to users"

Bithumb giveaway error

Bithumb accidentally gives away $44&nbsp;billion to customers

Staff members working for South Korean prosecutors, for some reason, decided to use a "wallet checking tool" during an August 2025 audit of seized crypto assets. The tool they selected turned out to be a <button class="define-target" id="phishing">phishing</button> tool, and five wallets were drained of 320&nbsp;BTC.<p>On February 19, the office announced they had recovered the stolen assets and identified the thief.</p>

"Prosecutors recover $22 million worth of lost Bitcoin"

Phishing attack on South Korean prosecutors

South Korean prosecutors lose $22&nbsp;million of seized crypto to the wallet inspector, later recover it

Hackers exploited a bug in smart contracts deployed by the defi protocol CrossCurve to steal an estimated $3&nbsp;million across multiple blockchains. The thief was able to spoof cross-chain messages, causing the CrossCurve <button class="define-target" id="bridge">bridge</button> to release assets not belonging to them.<p>CrossCurve took a conciliatory tone in on-chain messages sent to the thief, writing, "These tokens were wrongfully taken from users due to a smart contract exploit. We do not believe this was intentional on your part, and there is no indication of malicious intent." (Who among us hasn't accidentally stolen millions of dollars?) However, they warned, they planned to escalate to working with law enforcement and blockchain security firms to investigate and prosecute the theft if the funds were not returned within 72 hours.</p>

"CrossCurve Threatens Legal Action After $3M Cross-Chain Bridge Exploit"

CrossCurve users exploited for around $3&nbsp;million

A lending pool operated by YieldBlox on the Stellar blockchain was emptied of around $10.2&nbsp;million in an <button class="define-target" id="oracle-manipulation">oracle manipulation</button> attack on the Reflector <button class="define-target" id="oracle">oracle</button> supplying prices for the USTRY/USDC market. Reflector has said that there was no flaw with their oracle, and that market illiquidity caused the problem. "Reflector quoted correct prices. ...  but it's impossible to quote adequate prices for a market fully handled by a single market-maker with almost zero trading activity."<p>The attacker was able to manipulate the oracle price to show that USTRY was priced at $100 (rather than its actual trading price of around $1.05). Then, they borrowed against the overvalued asset, withdrawing XLM and USDC priced at $10.2&nbsp;million. However, around 48&nbsp;million of the stolen XLM (~$7.2&nbsp;million) were <button class="define-target" id="freeze">frozen</button>.</p>

YieldBlox theft

YieldBlox lending pool drained of $10.2&nbsp;million

IoTeX, a platform to connect <a href="https://en.wikipedia.org/wiki/Internet_of_things" target="_blank">IoT</a> devices to blockchain networks, lost around $2&nbsp;million after a <button class="define-target" id="private-key">private key</button> compromise enabled an attacker to drain funds from the project's token safe. Initial loss estimates were as high as $8.8&nbsp;million, although IoTeX CEO Raullen Chai stated that the actual loss was closer to $2&nbsp;million.<p>Blockchain security researcher Specter has suggested there may be links between this attack and a <a href="https://www.web3isgoinggreat.com/?id=infini-hack" target="_blank">$50&nbsp;million theft from the Infini "stablecoin neobank"</a> a year ago.</p>

"IoTeX hit by private key exploit draining around $2 million from bridge contracts, per co-founder"

IoTeX bridge exploit

IoTeX bridge exploited for $2&nbsp;million after private key compromise

After an <button class="define-target" id="oracle">oracle</button> misconfiguration, the Moonwell defi lending protocol accumulated $1.78&nbsp;million in <button class="define-target" id="bad-debt">bad debt</button>. When the protocol showed that <button class="define-target" id="wrapped-token">cb</button>ETH was priced at just over a dollar, rather than its actual market price of around $2,200, bots and humans alike rushed to take advantage of the mispricing. The error cascaded into liquidations across the platform.<p>This is the second time Moonwell has suffered a loss thanks to an oracle misconfiguration. In <a href="https://www.web3isgoinggreat.com/?id=moonwell-oracle-malfunction" target="_blank">November 2025</a>, the platform was left with almost $3.7&nbsp;million in bad debt after a different asset was mispriced.</p><p>Although the vulnerable pull requests were at least partially developed by an AI tool, the security auditor who initially attributed the vulnerability to Claude Opus 4.6 later softened his criticism, noting that even senior developers could have made the same mistake. He did, however, criticize the project for a lack of sufficiently rigorous testing that should have caught the issue.</p>

"Moonwell hit by $1.78M exploit as AI vibe coding debate reaches DeFi"

DeFi lending protocol Moonwell hit with $1.8 million bad debt after oracle misconfiguration

Event	Date	Amount More info	Recovered More info
Bithumb giveaway error	February 7, 2026	$44,000,000,000	$43,868,000,000
Phishing attack on South Korean prosecutors	February 19, 2026	$22,000,000	$22,000,000
CrossCurve users exploited for around $3 million	February 1, 2026	$3,000,000
YieldBlox theft	February 21, 2026	$3,000,000	$7,200,000
IoTeX bridge exploit	February 21, 2026	$2,000,000
Moonwell exploit	February 15, 2026	$1,780,000