• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news

Huobi Blunder: Exchange Sends Over 900 BTC to Wrong Users

newsbtc by newsbtc
7 years ago
in Cryptocurrency news
Reading Time: 2min read
Advertisement

Chinese bitcoin/litecoin exchange Huobi is catching some flak today following a serious blunder that took place Wednesday evening, in which the company’s customer service wrongly sent 920 bitcoins and 8,100 litecoins to 27 users. To put that into perspective, that’s about $400,000 USD and $36,000 USD, respectively.

Upon learning of the events unfolding, Huobi said it temporarily halted withdrawals, but those withdrawals have since resumed.

Huobi confirmed the incident on social networking website Weibo today:

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

[blockquote style=”2″]Last night, our customer service made a mistake when processing users’ withdrawal requests. This error led to 920 BTC and 8,100LTC being wrongly deposited to 27 users’ accounts. After the safety department received an alarm, the system was locked. The finance department investigated. Currently: 1, The withdrawal has resumed; 2, We have already contacted multiple users who returned 880 BTC and 5400 LTC. We apologize for the disturbance that we caused.[/blockquote]

As noted in the company’s update, a majority of the mistakenly-sent funds have been returned by the 27 users, but there’s still some missing.

Understandably, users on the exchange are concerned about Huobi’s handling practices following the incident. In response, however, Huobi says they are overhauling how they handle withdrawals by passing requests through an audit conducted by their financial department.

In an updated posting, they write:

[blockquote style=”2″]To prevent something like this from happening again, we will upgrade the process, switching from the current ‘system + customer service review’ to ‘system+customer service review and financial department audit.'[/blockquote]

So, how exactly did this all happen? Huobi explains:

[blockquote style=”2″]When the withdrawal requests were processed, the person forgot to mark the status, and reclicked. This problem will be solved by upgrading our procedure.[/blockquote]

Huobi has removed the above statement, according to Forbes, though it was still visible in a screenshot.

The event is only proof that today’s bitcoin exchanges aren’t impervious to careless mistakes. If anything, last night’s event suggest there’s still much to be done with regard to caring for the funds of users. Looking on the positive side, though, Huobi is changing their ways.

Tags: assetlossfauxpasFeaturedhuobiOnline
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
newsbtc

newsbtc

Related Posts

Bitcoin BTC

Why Bitcoin below $60K could be a great buying opportunity

3 hours ago
Ethereum ETH ETHUSD

How Ethereum’s gas fees could be on a lasting downtrend

5 hours ago
Cardano ADA ADAUSDT

Why ADA could run hotter than Bitcoin and make 10x gains

6 hours ago
Value Network

Value Networks’ Binary Options on Qtum Blockchain Experienced 200x Growth in DeFi

19 hours ago
OlympusDAO OHM

Why this OlympusDAO’s product could be amongst DeFi most lucrative

1 day ago
Bitcoin BTC BTCUSD

How Bitcoin back above $60,000 could create a powerful upside move

1 day ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
Bybit

Bybit

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Top ICOs

Student Coin

Student Coin

Review · Visit

Token sale

Holdefi

Holdefi

Review · Visit

Press Releases

Two Leading Russian Media and PR Agencies United Into One Full Cycle Advertising Agency

April 9, 2021

Southampton FC Extend Partnership Deal with Blockchain Leader the Coingaming Group

April 9, 2021

Omni.ai Releases Whitepaper for Alternative All-Inclusive and Revenue-Sharing Social Media Platform

April 9, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Invest BTC
  • Join STC ICO

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.