Due to the Bithumb mishap with the airdrop event, several banks in South Korea are taking a cautious approach to the renewal of real-name accounts for CEX

According to South Korea's Chosun Ilbo, due to the recent incident involving the erroneous distribution of 620,000 bitcoins by Bithumb, Korean banks that have real-name account partnerships with it and other exchanges are taking a cautious approach to contract renewals to mitigate potential reputational risks.

The contract between KB Kookmin Bank, which signed a real-name account agreement with Bithumb, is set to expire next month, and it is currently requesting Bithumb to strengthen its internal audits. Additionally, K Bank (partnering with Upbit, with a contract expiring in October) and Kakao Bank (partnering with Coinone, up for renewal in the third quarter) are also closely monitoring the situation and conducting a comprehensive assessment of the renewal matters.

Previously, on February 6, Bithumb planned to distribute a total of 620,000 won in rewards to event winners but mistakenly issued 620,000 bitcoins (worth approximately 62 trillion won) due to a unit input error. Although Bithumb canceled the payment of 618,100 bitcoins before the transaction was recorded on the blockchain, 1,788 bitcoins were still actually distributed.