TechFlame reports that South Korean cryptocurrency exchange Bithumb has admitted to a serious flaw in its internal system, which led to mistakenly transferring 620,000 bitcoins to users instead of the intended 620,000 Korean won. Bithumb CEO Lee Jae-won stated that the incident was primarily caused by a 24-hour delay in transaction processing and a lag in updating cryptocurrency holdings. Although the exchange has recovered most of the bitcoins, 1,786 bitcoins sold before the accounts were frozen remain unrecovered. South Korean lawmakers have expressed concerns over the lack of effective regulation in the country's virtual asset market, especially given that South Korea now has 10 million cryptocurrency investors and has become one of the most active trading markets globally.