Coinnest Exchange Accidentally Airdrops Millions In Bitcoins.

Coinnest Exchange Accidentally Airdrops Millions In Bitcoins.

2019-01-23 | Eddy Morgan

Coinnest Exchange Accidentally Airdrops Millions In Bitcoins.

In line with a recent news 'published', a renowned Korean crypto exchange namely Coinnest accidentally airdropped over $5 Mln in Bitcoin [BTC]. 

Coinnest recently announced that it accidentally sent around 6 Bln Korean won priced of bitcoin, that roughly equates to $5.3 Mln, to the accounts of traders. The Korean crypto exchange was making an attempt to airdrop WGT [We Game Tokens], however somehow their wires got crossed and they accidentally airdropped bitcoin instead in an exceedingly blunder.

Amidst the madness, Coinnest conjointly accidentally sent some Korean won to users, however since then it has been 'attempting' to roll back their servers to recover their losses. Of course, some account holders saw the crypto and withdrew it promptly. The exchange is presently asking their users to return the misdirected funds. However, its also rumoured that as a result of numerous Coinnest users were scrambling to withdraw their surprise winnings that it crashed the price of Bitcoin [BTC] to nearly $50 USD.

The server problems were apparently fixed on 19th Jan., with just about half the Korean won just returned. However, at this time, Coinnest doesn't have any plans to compensate anyone for the losses, though its believed that this issue isn't over yet.

This is not the primary time Coinnest has been in the news due to the blunders. Within the Q1 of 2018, the Korean crypto exchange was held in an exceedingly scandal where their former chief executive officer Kim Ik-hwan was suspected of allegedly embezzling billions of Korean won from user’s accounts and transferring them to his own accounts.

The Coinnest board of administrators actively acted to get rid of their former president and apologized to their users for any negative impact that they experienced due to the alleged 'misappropriation'.

Kim Ik-hwan was in police custody and questioned by native Korean authorities, however the result of the case perceived to evaporate into the ether and has remained terribly quiet ever since.

It appears that Coinnest and disputes walk hand in hand. As of yet, no official statement has been yet announced by the company in this misguided airdrop that took place accidently.

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