Bithumb Blames System Flaws for $40 Billion Bitcoin Error

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South Korea’s crypto exchange Bithumb said serious internal system flaws allowed an erroneous transfer of more than $40 billion in bitcoin during a promotional event last week, prompting regulatory scrutiny and market volatility. The exchange accidentally distributed about 620,000 bitcoins to customers instead of 620,000 won ($426), triggering a sharp 17% drop in bitcoin prices on its platform.

Chief Executive Lee Jae-won told lawmakers the error was exacerbated by a roughly 24-hour processing lag that delayed balance updates. The mistaken transfer amounted to roughly 15 times the exchange’s bitcoin holdings. Internal safeguards—including checks comparing transfer volumes with actual reserves—failed, and the assets were not earmarked in a separate account to ensure transaction safety.

Most of the bitcoins have since been recovered, though regulators said 1,786 coins were sold before accounts were frozen. Authorities stated that customers who sold the mistakenly credited assets are legally required to return them. The incident has sparked criticism in parliament over oversight failures in one of the world’s most active crypto markets.

The head of the Financial Supervisory Service said the episode underscores the need for stronger regulatory frameworks, adding that virtual asset platforms should ideally face oversight similar to banks, though current laws do not yet provide that authority.

OpenAI, Samsung SDS and SK Telecom to Begin Korea Data Center Build

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OpenAI, Samsung SDS, and SK Telecom are preparing to begin construction of artificial intelligence data centers in South Korea as early as March, according to Science Minister Bae Kyung-hoon.

The South Korean government previously said the U.S. startup would form joint ventures with the two Korean firms to develop two facilities with an initial combined capacity of 20 megawatts. The planned infrastructure is intended to support AI model training and deployment, reinforcing South Korea’s role in the global AI supply chain.

SK Telecom confirmed it is in discussions with OpenAI regarding a data center project in the country’s southwest, though the exact timeline for construction remains under review. The collaboration reflects increasing partnerships between U.S. AI developers and Asian technology firms to expand computing capacity amid surging demand.

The initiative comes as major AI companies race to secure power, land, and advanced hardware to support rapidly scaling models. South Korea’s strong semiconductor ecosystem and digital infrastructure make it an attractive base for AI expansion, particularly as governments compete to host next-generation data facilities.

Nothing Phone 4a Series Launch Hinted Following EEC Certification; Price and Features Expected

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Nothing Phone 4a Series: Price and Key Specs Leak Ahead of Expected 2026 Launch

Nothing has officially started teasing the arrival of its next-generation midrange smartphones, the Nothing Phone 4a and Nothing Phone 4a Pro. The London-based brand is expected to focus on expanding its affordable lineup this year rather than launching a new flagship model. Early reports suggest that the company plans to introduce two devices in the series, aiming to build on the success of the previous Phone 3a models. The teasers indicate that the launch could be just around the corner.

Over the past few weeks, the upcoming handsets have appeared on several certification platforms, pointing toward an imminent global release. The standard Nothing Phone 4a was previously spotted on the Bureau of Indian Standards (BIS) as well as the UAE’s Telecommunications and Digital Government Regulatory Authority (TDRA) website. These listings strongly suggest that the phones will be launched in multiple international markets, including India and the Middle East, in the near future.

Adding to the anticipation, both the Nothing Phone 4a and Phone 4a Pro have now surfaced on the European Economic Community (EEC) certification database. The devices were reportedly listed under the model numbers A069 and A069P, believed to correspond to the standard and Pro variants respectively. Such certifications are often one of the final steps before an official launch, reinforcing expectations that Nothing will soon unveil full details about the smartphones.

Although official specifications remain unconfirmed, leaks indicate that the new models will be powered by Qualcomm Snapdragon chipsets, delivering improved performance over their predecessors. Industry insiders also suggest that the devices may arrive with slightly higher price tags, reflecting upgraded features and hardware. With teasers already live and certifications in place, it appears that Nothing fans won’t have to wait much longer for the company’s next big smartphone announcement.