One Exchange’s Failure Makes Everyone Pay, Entire Bithumb Crisis in Brief

Bithumb credited 620,000 Bitcoins to users, mistaking the currency as BTC rather than Korean Won (KRW).

Out of that, 99.7% Bitcoins were recovered, and the remaining 1,788 BTC were covered using company cash reserves.

Users rushed to sell Bitcoins, resulting in Bithumb quoting $55,000 per Bitcoin rather than the price of $65,000.

Authorities are reportedly determined to treat this as a structural flaw, as Bithumb was able to manufacture Bitcoins out of thin air.

Now the question is, If even Bitcoin isn't free from price manipulation, then how do we trust others?