When we text about currencies in everyday life, we use signs to make things shorter. When it comes to monetary transactions, banks tend to use acronyms such as USD, EUR, CAD, or GEL. While banks must adhere to the ISO 4217 standard, which assigns currency codes, cryptocurrency exchanges operate under a different code. Which almost cost one of them $44 billion, according to a Reuters report. Well, every penny out of 44,000,000,000 USD.
A mistake between the '$' and 'B' signs at Bithumb, a South Korean cryptocurrency exchange, resulted in the unintended distribution of tens of billions of dollars' worth of bitcoin to users. The company said the incident was caused by an internal error during a promotional event, not by a security breach, and that nearly all of the mistakenly issued assets were reportedly recovered shortly after the event.
