Bithumb Reports Over $200 Million in Crypto Dormant for a Decade
Bithumb, holding $201.8 million across 2.6 million dormant accounts, will notify and assist users with account recovery after over a year of inactivity, including assets untouched for more than 10 years.
Fact Check
The provided source, a news article from Traders Union, directly and explicitly supports the claim. The summary states that Bithumb identified '$200 million in cryptocurrency' in accounts that have been 'inactive for over 10 years.' This aligns perfectly with all the key details of the statement: the entity (Bithumb), the amount (over $200 million), and the dormancy period (a decade). While the source is a secondary news report and not a primary press release from Bithumb itself, its high relevance and direct corroboration of the facts provide strong evidence for the statement's truthfulness. The absence of any conflicting information further strengthens this conclusion. The small degree of uncertainty reflected in the probability score accounts for the medium authority of the source and the fact that it is a secondary report.
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Summary
Bithumb, one of South Korea’s leading cryptocurrency exchanges, reported ₩291.6 billion ($201.8 million) in dormant customer assets spread across about 2.6 million accounts. The largest single dormant account holds approximately $2.84 million, with some accounts inactive for up to 4,380 days. The exchange will identify accounts inactive for over a year, notify eligible users, and assist in the recovery process as part of its customer protection measures.
Terms & Concepts
- Crypto Exchange: A digital platform where users can buy, sell, and trade cryptocurrencies.
- Dormant Account: An account that has been inactive for an extended period, with no transactions or activity.
- Bithumb: A major South Korean cryptocurrency exchange facilitating digital asset trading.